The South Korean central bank has released an analysis of last year's growth rate of the North Korean economy, which is estimated to be minus 4.5%.
It is said that it is due to strict infection control measures against the new coronavirus, which is the largest negative range in more than 20 years.
The Central Bank of South Korea and the Bank of South Korea estimate and publish the real growth rate of North Korea's GDP = gross domestic product every year based on materials such as the Ministry of Unification, and last year's estimate was announced on the 30th. it was done.
According to this, last year's growth rate was minus 4.5% compared to the previous year, turning negative for the first time in two years.
This is the largest negative range in more than 20 years, following the negative 6.5% in 1997 when North Korea was suffering from severe food shortages, and the negative range by industry was 9.6% for the mining industry and 7.6% for the agriculture, forestry and fisheries industry. , Manufacturing industry is 3.8% and so on.
The Bank of Korea also announced the amount of imports and exports that North Korea made in the last year, totaling 860 million dollars and 94 billion yen in Japanese yen, a decrease of more than 70% from the previous year. It is said.
A South Korean bank official said that in addition to sanctions based on the UN Security Council resolution, North Korea blocked the border with measures against the infection of the new coronavirus, severely restricted trade, and a combination of natural disasters such as typhoons. Is the cause of negative growth.