South Korea's industrial output rise in August

(MENAFN) The industrial output growth in South Korea expanded at a faster rate in August from the month before it, Xinhua reported. Statistics Korea said that output of all industrial sectors increased by 1 percent last month compared to July, and by 2.8 percent compared to August 2012, recording the fastest growth rate in four months. The growth in the industrial sector was mainly due to a rise in exports, which surged by 7.7 percent last month on a yearly basis. In August, South Korea recorded its 18th consecutive month of trade surplus with USD4.85 billion. Exports in the country account for about 50 percent of its economy.