North Korea 2016 economic growth at 17-year high despite sanctions - South Korea


  • World
  • Friday, 21 Jul 2017

FILE PHOTO: North Korean soldiers march during a military parade marking the 105th birth anniversary of the country's founding father Kim Il Sung in Pyongyang, North Korea, April 15, 2017. REUTERS/Damir Sagolj/File Photo

SEOUL (Reuters) - 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 defiant pursuit of nuclear weapons.

Gross domestic product (GDP) in North Korea last year rose 3.9 percent 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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