Reported about 18 hours ago
North Korea's economy grew by 3.7% in 2024, marking the fastest growth rate in eight years, fueled by enhanced economic relations with Russia, as reported by South Korea's central bank. This growth, up from 3.1% in 2023, is attributed to significant advancements in the manufacturing, construction, and mining sectors, with a notable 10.7% increase in the heavy chemical industry. Despite a decline in overall trade, exports saw a spike, and North Korea's per capita gross national income was estimated at just 3.4% of South Korea's. The Bank of Korea's findings reflect the country's evolving geopolitical alliances, particularly with Russia.
Source: YAHOO