Picture : YONHAP Information
The North Korean economic system is estimated to have expanded by greater than three p.c in 2023, rebounding from a three-year recession.
In response to knowledge launched by the Financial institution of Korea(BOK) on Friday, the North’s actual gross home product(GDP) final 12 months rose three-point-one p.c in comparison with a 12 months earlier. The BOK attributed the expansion to the North’s eased COVID-related management measures and elevated commerce with China.
The North’s GDP had contracted four-point-five p.c on-year in 2020, zero-point-one p.c in 2021 and zero-point-two p.c in 2022.
In 2023, the nation’s agriculture, forestry and fishery trade grew one p.c and its manufacturing sector by five-point-nine p.c, in comparison with the respective two-point-one and four-point-six p.c drop recorded for 2022.
The North’s nominal gross nationwide revenue(GNI) final 12 months was estimated at 40-point-nine trillion received, about one-sixtieth that of South Korea’s GNI, whereas the North’s GNI per capita was one-point-59 million received, one-thirtieth that of South Korea.
North Korea’s commerce quantity, except for inter-Korean exercise, reached 27-point-seven trillion received in 2023, up 74-point-six p.c on-year.
