SEOUL: North Korea's economy shrank in 2018 for a second straight year, and by the most in 21 years, hit by international sanctions to stop its ...
SEOUL: North Korea's economy shrank in 2018 for a second straight year, and by the most in 21 years, hit by international sanctions to stop its nuclear programme and by severe drought, South Korea's central bank said on Friday .
North Korea's gross domestic product contracted by 4.1 per cent last year in real terms, the worst since 1997 and the second consecutive year of decline after a 3.5 per cent fall in 2017, the South's Bank of Korea estimated.North Korea does not disclose any statistics on its economy. The South Korean central bank has been publishing its estimates since 1991, based on information from various sources including the South's foreign trading agencies.
North Korea's international trade fell 48.4 per cent in value in 2018 as tougher international sanctions in late 2016 and 2017 cut exports by nearly 90 per cent, the Bank of Korea said. Output in the mining sector shrank 17.8 per cent because of sanctions on exports of coal and minerals, while the agriculture, forestry and fisheries sector contracted by 1.8 per cent because of drought, it said.
North Korea's population was estimated at 25.13 million and annual income per head at S$1,298, the South Korean central bank said.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
North Korea fired projectiles from around Wonsan: South KoreaSEOUL: North Korea fired at least two unidentified projectiles early on Thursday (Jul 25) from an area near Wonsan, on North Korea's eastern ...
Read more »
North Korea fired projectiles from around Wonsan: South KoreaSEOUL: North Korea fired at least two unidentified projectiles early on Thursday (Jul 25) from an area near Wonsan, on North Korea's eastern ...
Read more »
North Korea says missile launches were 'solemn warning' to South KoreaNorth Korean leader Kim Jong Un inspected the demonstration of a 'new-type tactical guided weapon' on Thursday (Jul 25) as a warning to South ...
Read more »
North Korea fired 'new type of missile' not seen before: SeoulSEOUL: One of the two missiles North Korea fired into the sea on Thursday (Jul 25) flew 690km and was a 'new type' that South Korea's Joint Chiefs ...
Read more »
North Korea fired 'short range' projectile: US officialWASHINGTON: The United States on Wednesday (Jul 24) confirmed an announcement by ally South Korea that Pyongyang had fired a projectile, saying it ...
Read more »
North Korea's Kim says missile launch a warning to South Korean 'warmongers'North Korea said on Friday its latest missile launch was a warning to South Korean 'warmongers' to stop importing weapons and conducting joint military drills, a message that analysts said was also aimed at the United States. North Korean leader Kim Jong Un personally watched the test-fire
Read more »