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BOK: N. Korean Economy Grew 3.9% in 2016

News2017-07-21
BOK: N. Korean Economy Grew 3.9% in 2016

The North Korean economy is presumed to have posted a three-point-nine percent growth last year from a year earlier.
 
The Bank of Korea(BOK) on Friday estimated the 2016 North Korean economic growth, noting the relatively high growth in fact reflects a base effect stemming from the economic struggles faced by the communist regime in 2015 due in part to drought.
 
The South Korean central bank said the average annual economic growth of the North in 2015 and 2016 was only one-point-three percent, emphasizing the North is continuing a low one-percent-range economic growth in recent years.
 
The BOK also presumed the North’s nominal gross national income(GNI) last year at 36-point-four trillion won, only a 45th of that of South Korea. Per capita GNI of the North was projected to be one-million-461-thousand won, a 22nd of that of the South. 

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