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. Last Updated: 07/27/2016

August Output Rises by 16%

Russian industrial output rose 16 percent in August against the same month last year, up from a 12.8 percent rise in July, the State Statistics Committee says.

A spokesman said Wednesday that output for the first eight months of 1999 rose 5.9 percent on the same period of 1998 and totaled 1.76 trillion rubles ($68.8 billion). Industrial competitiveness has improved substantially since last year's ruble devaluation.

Meanwhile, Russia had a trade surplus of $2.75 billion in July, 2.7 times that of the same month in 1998, Interfax quoted the Central Bank's Internet site as saying.

Exports totaled $6.08 billion, 4 percent down on the July 1998 figure, while imports fell 37.6 percent to $3.33 billion, Interfax said.

The trade surplus in the first seven months of the year totaled $16.43 billion, exports totaled $38.78 billion and imports $22.35 billion, Interfax reported.