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South Korea experienced a contraction in its economy in 2018 for the second year in a row and the largest in the last 21 years in terms of international sanctions to end its nuclear program, the central bank said.
The bank estimates that North Korea's gross domestic product (GDP) fell 4.1% in real terms last year, the worst since 1997 and the second consecutive year of decline after falling 3, 5% in 2017
North Korea does not disclose any statistics on its economy. The Central Bank of Korea has published its estimates since 1991 based on information from various sources, including Southern foreign trade agencies.
North Korea's international trade fell 48.4 percent in 2018 after stiff international sanctions in late 2016 and 2017 cut exports by nearly 90 percent, the central bank said.
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