International sanctions and drought shrunk North Korea’s economy the most in 21 years, South Korea’s central bank said Friday, according to a report.
North Korea’s GDP in 2018 fell by 4.1 percent last year – the most since 1997. In 2017, its GDP contracted 3.7 percent, Reuters reported.
The country's international trade also fell 48.4 percent in value due to sanctions meant to pressure Kim Jong Un into denuclearizing. Exports were cut by nearly 90 percent.
Mining, agriculture, forestry and fisheries sectors all suffered from either sanctions or drought.
North Korea’s estimated 25.13 million citizens have a median income per person f $1,298 a year, the central bank said, according to Reuters.
The South Korean central bank has been reporting on North Korea’s economy since 1991. North Korea does not disclose economic statistics.