SEOUL : North Korea's economy shrank for a third consecutive year in 2022, as COVID-19 restrictions and U.N. sanctions continued to weigh on economic activity in the isolated authoritarian state, according to estimates by the South's central bank.Foreign trade posted a record rebound, however, after dryin
SEOUL : North Korea's economy shrank for a third consecutive year in 2022, as COVID-19 restrictions and U.N. sanctions continued to weigh on economic activity in the isolated authoritarian state, according to estimates by the South's central bank.
The BOK's estimates are considered among the most reliable indicators of economic activity in the North, which does not publish official data. The industrial, agricultural and services sectors accounted for 30.5 per cent, 23.1 per cent and 33.4 per cent of the economy in 2022, respectively.
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