[ad_1]
|
|
North Korea's economy has seen the worst decline in the last 20 years last year, the South Korean Central Bank (BOK) said on Friday. International sanctions violate programs Nuclear and ballistic activities in Pyongyang have yielded results, Reuters and AFP reported.
According to estimates of the Central Bank of South Korea, North Korea's gross domestic product fell by 3.5% last year, compared with 2016, where it had risen by 3, 9%, according to Agerpres. This is the worst annual decline in the North Korean economy since 1997, when a devastating famine resulted in a contraction of 6.5% of GDP.
Industrial production, responsible for about a third of the North Korean economy, registered a decline of 8.5% last year, also the largest decline since 1997, as oil and other hydrocarbons energy resources Production in agriculture and the construction sector decreased by 1.3% and 4.4% respectively.
"The sanctions imposed on North Korea were more severe in 2017 than in 2016. The volume of foreign trade fell sharply due to the decline in exports of coal, steel, fish and textiles, but it is difficult have seriously affected industrial production, "said Shin Seung-cheol, an official at the South Korean central bank.
Experts say North Korea's exports fell 37.2 percent to $ 1.77 billion, while imports edged up 1.8 percent to $ 3.78 billion . Trade between the two Korean states collapsed 99.7% to $ 900,000 following the closure of the Kaesong Common Industrial Zone in North Korea.
The South Korean Central Bank estimates that gross national income per capita in North Korea is 1.46 million won ($ 1,283), while South Korea is 23 times higher.
Since the Pyongyang regime does not publish any official data on its economy, the Central Bank of South Korea notes that its estimates are based on information from various private and public organizations that do business with North Korea and that He used the methodologies used to calculate the GDP of South Korea.
.
Source link
