South Korea's industrial output posted an on-year drop for the first time in 2020 due to the economic fallout of the COVID-19 pandemic. 

According to Statistics Korea on Friday, the nation's overall industrial production decreased point-eight percent last year from 2019. 

It marks the first on-year drop since the nation started compiling related data in 2000.

Production in the mining, manufacturing, gas and electricity industries gained point-four percent, while the output in the service industry slipped two percent. 

Retail sales, a key indicator of consumption levels, shrank point-two percent in 2020, the largest drop since 2003, when it contracted three-point-one percent.

Facility investment, however, increased six percent on-year last year.   

For the month of December last year, the nation's industrial output, consumption and investment all increased on-month, showing signs of economic recovery. 

The industrial output gained point-five percent on-month in December, while retail sales inched up point-two percent after losing for two straight months. Facility investment also rose point-nine percent on-month in December.