Export and import prices in February both rose to the highest levels seen in nearly a decade due to the soaring prices of crude oil and raw materials.

According to data by the Bank of Korea on Tuesday, the country's export price index came to 118-point-21 last month, up two-point-one percent from a month earlier.

The index reached its highest since June 2016 and soared 20-point-three percent compared to a year ago.

The import price index also rose three-point-five percent on-month in February to 137-point-34, the highest since September 2012.

From a year earlier, the index jumped 29-point-four percent.

The rises in import and export prices are attributed to the soaring prices of crude oil. The price of Dubai crude, South Korea's benchmark, jumped ten-point-seven percent in February.