North Korea GDP Annual Growth Rate

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.