North Korea’s economy went into a tailspin


www.vsyako.netPhoto: Ilya Pitalev / RIA Novosti

North Korea is experiencing the worst over the last few decades of economic decline. This happened against the background of international sanctions and a series of droughts, according to Bloomberg. Pyongyang does not publish economic data, indicators calculates Seoul, based on its own information.

According to the Central Bank of South Korea, the GDP of Korea in 2018 compared with last year dropped 4.1 percent. The decline continues for the second year in a row, and new data are the worst since 1997, when the GDP collapsed by 6.5 percent. Then it led to mass starvation.

Sanctions against North Korea has led to the fact that the country lacks the necessary technology Selhozholding. The country’s deteriorating food situation, particularly in the provinces, which account for half of production of all rice, dropped by 17 per cent. Production in the mining sector declined by 17.8 percent because of the sanctions on the export of coal and minerals. Agricultural and fishing industry decreased by 1.8 percent last year — the most since 2010.

In mid-July the international Committee of the red cross (ICRC) reported the mass starvation in North Korea. The reason for the critical situation became arid weather because of it assembled in the country, the harvest was two times less than planned. Information about the famine is confirmed by state media of the DPRK: they encouraged citizens to prepare for heavy period.

Video, photo All from Russia.


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