2024-07-29 02:17:32
The real GDP of the DPRK in 2023 grew by 3.1% compared to the previous year, before which the country’s economy had been shrinking for three years in a row. This assessment was made by the Bank of Korea (the central bank of the Republic of Korea), Day.Az reports with reference to TASS.
According to its analysis, the DPRK economy contracted by 4.5% in 2020, by 0.1% in 2021, and by 0.2% in 2022. Positive changes in 2023 were due to growth in agriculture, industry, and construction, the South Korean regulator notes. The indicators also increased in the services sector.
The volume of foreign trade of the DPRK in 2023 amounted to $2.77 billion, in 2022 trade operations were estimated at $1.59 billion. In 2023, the People’s Republic’s exports increased by 104% – to $330 million. Imports increased by 71.3% – to $2.44 billion. In 2023, the DPRK and the Republic of Korea, according to statistics, did not conduct a single trade transaction between themselves.
The Bank of Korea’s estimates are based on data from South Korean organizations and agencies specializing in the DPRK.
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