South Korea's export prices rose in July, marking the eighth straight monthly gain amid a strong recovery in exports, central bank data showed Friday.

The country's export price index, in terms of the local currency, rose 3.5 percent in July from the previous month, according to the preliminary data from the Bank of Korea (BOK).

The reading marked the eighth consecutive month of an on-month rise. In June, the index rose 0.7 percent on-month.

From a year earlier, the index jumped 16.9 percent in July, the BOK data showed.

South Korea's exports soared 29.6 percent on-year in July to a record high, extending their gains to the ninth consecutive month as the global economy maintained a recovery.

Outbound shipments came to $55.4 billion last month on strong auto and chip sales, according to government data.

The monthly export volume marked the highest level since South Korea started compiling related data in 1956. The country's exports over the first seven months of 2021 came to $358.7 billion, also setting a fresh high.

South Korea's import prices gained 3.3 percent on-month in July, mainly due to higher oil prices, the BOK said. (Yonhap)