South Korea's current account surplus hit a new monthly high of 5.84 billion U.S. dollars last month as waning imports caused by falling commodity prices widened the trade surplus, a report by the central bank showed Friday.

Current account surplus reached 5.84 billion dollars in June, up from a revised surplus of 3.57 billion dollars tallied in May, according to the Bank of Korea (BOK). The June surplus was the largest in the country's history.

For the first six months of this year, the surplus amounted to 13.7 billion dollars, up from 8.1 billion dollars for the same period of last year. The current account is the broadest measure of international trade, including goods, services and investment income.

The current account maintained its surplus trend for five straight months. Exports, which account for around half of the Asia's No.4 economy, increased despite growing external uncertainties from Europe's debt crisis, while imports contracted sharply amid sliding raw material prices.

On a work-in-progress basis, exports stood at 46.85 billion dollars, up from 46.16 billion dollars a month earlier. Overseas shipments of petroleum products and machinery advanced last month on an on-year basis, but demand for locally-made telecommunication deices reduced.

Exports to the Southeast Asia, the Middle East and Japan continued its growth trend in June, but shipments to the European Union (EU) reduced at a faster pace than in May. Exports to the United States contracted in June, but the pace was slower than the previous month.

Imports dropped sharply in June due to falling commodity prices and reduction in imports of capital goods. Inbound shipments declined to 41.84 billion dollars in June from 44.45 billion dollars in May, sending the goods account balance to a surplus of 5.01 billion dollars, up from a 1.72 billion dollar surplus in the previous month.

The service account, which measures the flow of travel, transport costs and royalties, logged a surplus of 170 million dollars in June, down from a surplus of 1.59 billion dollars a month before. The reduction was attributed to underperformance in construction services and travel accounts that showed improvement in the previous month.

The primary income account, including monthly salaries and investment income, posted a surplus of 900 million dollars in June, up from a surplus of 340 million dollars in May thanks to a dividend income increase.

The financial account, which gauges cross-border investment, registered an outflow of 5.28 billion dollars in June, up from an outflow of 3.04 billion dollars tallied in the previous month, according to the BOK. For the first six months of this year, the account recorded an outflow of 9.78 billion dollars.

Net outflow in direct investment narrowed to 690 million dollars in June from 1.38 billion dollars in May due to an increase in foreign investment into the country.

Portfolio investment, including stock and bond investment, logged a net outflow of 2.33 billion dollars in June, up from an outflow of 940 million dollars in May due to a growth in local investors' purchase of foreign bonds.

Other investment account, including trade credit and foreign debts, marked a net outflow of 1.67 billion dollars in June, almost unchanged from a month before.