South Korea posted a current account surplus in February, but the surfeit sharply declined as imports increased amid soaring prices of oil and raw materials.

According to tentative data from the Bank of Korea(BOK) on Friday, the country's current account surplus came to six-point-42 billion U.S. dollars in February, down from eight-point-06 billion dollars the previous year.

It is the 22nd straight month that South Korea logged a surplus since May 2020 but the amount plunged by one-point-64 billion dollars from a year ago.

The goods account surplus slipped to four-point-27 billion dollars in February, down one-point-59 billion dollars from a year earlier.

Exports rose by 19-point-one percent on-year to almost 53-point-9 billion dollars, while imports jumped 25-point-nine percent to 49-point-six billion dollars amid rising costs of crude oil and raw materials.

The service sector logged a surplus of 570 million in February, expanding the surplus by 390 million dollars from a year earlier. In particular, the transport account on-year surplus soared to one-point-nine billion dollars from 730 million dollars.