December 03, 2023

N.Korea’s economy evolving: Bank of Korea

Service, construction show ongoing improvement, while primary industry remain stagnant due to last year's drought

The Bank of (South) Korea on Friday unveiled the North Korean economic growth rate, noting that its gross domestic product increased 1 percent in 2014 from the previous year.

The North's mining industry grew by 1.6 percent, and manufacturing showed 0.8 percent of growth due mainly to increasing production of textiles and shoes. The service industry, including restaurants, accommodation, transportation and communication showed 1.3 percent growth.