North Korea’s economy expands 1.8% in 2019
(VOVWORLD) -North Korea’s economy grew in 2019 for the first time in three years, and is forecast to accelerate in 2020, according to the United Nations Conference on Trade and Development.
 A trade fair in Pyongyang, North Korea, May 20, 2019. (Photo: AFP / VNA) |
Gross domestic product increased an estimated 1.8% last year, compared with a 4.2% contraction in 2018, UNCTAD said in a report released Thursday, which didn’t elaborate on the data. It predicted growth of 2.2% this year, and 2.8% in 2021. North Korea's GDP between 1997 and 2011 grew by an average of 0.8%.
Since taking power, North Korean leader Kim Jong-un has called for strengthening efforts to boost the domestic economy without external assistance, asserting self-reliance is the most right policy against foreign sanctions.