Go to Contents Go to Navigation

N. Korea's economy tanks 4.5 pct in 2020 on sanctions, pandemic

All News 12:00 December 23, 2021

SEJONG, Dec. 23 (Yonhap) -- North Korea's economy shrank 4.5 percent in 2020 from a year earlier due to international sanctions and the coronavirus pandemic, government data showed Thursday.

The drop in the reclusive country's real gross domestic product (GDP) represents a turnaround from a 0.4 percent increase a year earlier, according to the data from Statistics Korea.

The statistics agency attributed the decline to international economic sanctions for its weapons program and border lockdowns stemming from the COVID-19 outbreak.

The data also showed North Korea's nominal gross national income (GNI) coming to 35 trillion won (US$29.4 billion) last year, or one-fifty-sixth of South Korea's.

N. Korea's economy tanks 4.5 pct in 2020 on sanctions, pandemic - 1

Pyongyang's per capita GNI stood at 1.379 million won last year, compared with South Korea's 37.62 million won.

North Korea's trade volume tumbled 73.4 percent on-year to $860 million last year, compared with Seoul's $980.1 billion.

Pyongyang's grain production amounted to 4.4 million tons in 2020, down 5.2 percent from a year earlier. It was 350,000 tons more than that of Seoul.

North Korea's population stood at 25.37 million last year, compared with South Korea's 52 million.

North Korean men had a life expectancy of 66.9 years last year, while women were expected to live to 73.6 years. South Korean men, in comparison, were expected to live to 80, and its female life expectancy was 86.5.

South Korea's statistics office has been publishing general information on the North since 1995 to shed light on its economic and social conditions.
(END)

HOME TOP
Send Feedback
How can we improve?
Thanks for your feedback!