North Korea's GDP expanded 0.4 percent in 2019, recovering from a 4.1 percent contraction in 2018. It was the first GDP growth rate since 2016 despite international sanctions. The main upward contributions to growth came from construction, agriculture and fishing, helped by better weather conditions. On the expenditure side, exports rose by 14.4 percent from a year earlier to $280m in 2019, boosted by clocks and watches, along with footwear, hats and wigs. The economy is expected to be hurt this year by the coronavirus pandemic, in particular due to lower shipments to China.
GDP Annual Growth Rate in North Korea averaged -0.57 percent from 1990 until 2019, reaching an all time high of 6.10 percent in 1999 and a record low of -6.50 percent in 1997. This page provides - North Korea GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. North Korea GDP Annual Growth Rate - values, historical data and charts - was last updated on September of 2020.
GDP Annual Growth Rate in North Korea is expected to reach -5.50 percent by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the North Korea GDP Annual Growth Rate is projected to trend around -1.00 percent in 2021 and 1.30 percent in 2022, according to our econometric models.