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What Sanctions? North Korea's Economy Is Booming!

North Korean leader Kim Jong-un reacts as he inspects a test-fire of strategic submarine-launched ballistic missile with Ri Pyong-chol (right). Photo: KCNA via Reuters

Christine Kim, Asia Times: What sanctions? North Korea economy grows at fastest pace in 17 years

North Korean GDP grew 3.9% in 2016, according to the central bank of South Korea

North Korea’s economy grew at its fastest pace in 17 years in 2016, South Korea’s central bank said on Friday, despite the isolated country facing international sanctions aimed at curbing its pursuit of nuclear weapons.

Gross domestic product (GDP) in North Korea last year rose 3.9% from the previous year when the economy contracted due to a drought and low commodity prices, the Bank of Korea said.

The expansion, driven by mining and energy, marked the biggest rise since a 6.1 percent gain in 1999.

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Update: N Korea economy grows at fastest rate in 17 years (BBC)

WNU Editor: Is North Korea's economy really booming? .... North Korean children face hunger amid worst drought since 2001 (DW).

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