South Korea's current account surplus for the first half of 2019 dropped nearly 25 percent compared to a year ago, the lowest level recorded in seven years.

According to the Bank of Korea on Tuesday, the country's current account surplus totaled 21-point-eight billion dollars in the January to June period, down 24-point-seven percent from the same period last year.

Overall outbound shipments tumbled nine-point-eight percent on-year to 277-point-seven billion dollars in the first half, the first drop in two-and-a-half years, while imports slipped five-point-seven percent to 240-point-seven billion dollars.

The current account surplus for the month of June, meanwhile, shrank one-point-one billion dollars, or 14-point-five percent, on-year to six-point-four billion dollars due to a fall in the goods account surplus. 

Exports tumbled 15-point-nine percent on-year in June to some 44 billion dollars on prolonged trade tensions between the U.S. and China and a drop in semiconductor and petroleum product prices. 

Imports fell at a slower clip of eleven-point-eight percent to 38 billion dollars in June.