[Graphic News] N. Korean economy shrinks for 2nd year in 2021 on sanctions, pandemic: BOK
Aug 2, 2022
North Korea‘s economy is estimated to have contracted for the second straight year in 2021 on global sanctions and the coronavirus pandemic, according to South Korea’s central bank. The North’s economy, which has been hit by tightened UN sanctions over its nuclear and missile programs, shrank 0.1 percent last year from the previous year, the Bank of Korea said in a report. Still, last year’s contraction slowed from a negative growth rate of 4.5 percent recorded a ye