DPRK’s economy rebounds due to arms trade with Russia - Bloomberg
North Korea's economy has revived as the arms trade with Russia has bolstered Kim Jong-un's regime.
As Censor.NET informs, Bloomberg writes about this with reference to data from the Central Bank of South Korea.
North Korea's gross domestic product grew by 3.1% in 2023 compared to the previous year. Thus, a three-year series of cuts was put to an end. The largest increase since 2016 was recorded.
Heavy and chemical industries became the leaders of economic growth, increasing by 8.1% compared to the previous year. While the report does not say whether these industries are involved in weapons production, it notes an increase in the production of primary metals, which may include iron, steel, copper, nickel and aluminum.
The Bank of Korea reports annually on North Korea's economy based on data it collects from various institutions, and its figures are considered among the best analyzes of North Korea's activities.
