Economics
North Korea’s Economy Fails to Rebound Before ‘Fever’ Surge
- Outbreaks hound the economy this year amid ongoing sanctions
- North Koreans struggle under dilapidated health system
North Korea has also repeatedly shown that it puts its military objectives ahead of any goals for wider economic development for its population at large.
Photographer: Kim Won Jin/AFP/Getty Images
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North Korea’s economy failed to rebound last year as the impact of pandemic measures on trade continued to weigh, with the prospects for growth this year clouded by a surge in virus cases that was finally recognized publicly by Kim Jong Un’s regime.
Gross domestic product in North Korea contracted 0.1% in the 12 months through December, according to South Korea’s central bank Wednesday. North Korea’s economy already shrank 4.5% in 2020 as the pandemic prompted the official closure of its border with China, triggering its worst slump in decades.