The North Korean economy shrank 0.1% in 2021, following a 4.5% contraction in 2020, dragged down by UN sanctions and the closure of its border with China. Production fell in the mining sector (-11.7% vs -7.6% in 2020), namely coal; manufacturing (-3.3% vs -3.8%), mainly food, beverages & tobacco products and chemicals; and services (-0.4% vs -4%). On the other hand, increases were seen in the output for agriculture, forestry & fishing (6.2% vs -7.6%); electricity, gas & water (6% vs 1.6%), namely hydroelectric power generation; and construction (1.8% vs 1.3%), mainly residential building construction. source: Bank of Korea
GDP Annual Growth Rate in North Korea averaged -0.68 percent from 1990 until 2021, reaching an all time high of 6.10 percent in 1999 and a record low of -6.50 percent in 1997. This page provides - North Korea GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. North Korea GDP Annual Growth Rate - values, historical data and charts - was last updated on June of 2023.