N. Korea's economy struggles following sanctions, Covid-19

Economic concerns triggered volatility in fuel and food prices and exchange rates in unofficial markets, where most ordinary North Koreans buy their food. - AFP

SEOUL (Reuters): Already suffering under stringent US and UN sanctions, North Korea's economy faced a double whammy of severe floods and the coronavirus pandemic this year, which prompted Pyongyang to shut its border with China and ditch outside aid.

Kicking off a rare congress on Tuesday (Jan 5), North Korean leader Kim Jong-un said his ambitious five-year economic plan unveiled in 2016 had "tremendously fell short of goals on almost every sector".