-1-PRESSRELEASEEmbargoeduntilreleaseat12:00P.M.,July26,2024July26,2024Lee,Jihyeon:82-2-759-5265leejihyeon@bok.or.krGrossDomesticProductEstimates*forNorthKoreain2023*NorthKorea’seconomicindicatorsrelatedtothenationalaccounts(suchasgrowthrate,industrialstructure,economicsize,andpercapitaGNI)areestimatedbasedonSouthKorea’spricesandvalue-addedratios,andthusshouldnotbedirectlycomparedwiththoseofothercountries.Ⅰ.Overview□NorthKorea’srealGDPincreasedby3.1%in2023.―Productionintheagriculture,forestry&fishing,andmining&manufacturingsectorsreturnedtogrowth,andtheincreaseintheconstructionsectorexpanded.(RealGrossDomesticProduct)□Productionintheagriculture,forestry&fishingsectorincreasedby1.0%in2023(-2.1%in2022),duemainlytoanincreaseinagriculture.□Miningproductionincreasedby2.6%in2023(4.6%in2022),owingtoincreaseincoalmining.NorthKorea’sRealGDPGrowthRates1)(percentagechangeoverpreviousyear)’13’14’15’16’17’18’19’20’21’22’23’131.11.0-1.13.9-3.5-4.10.4-4.5-0.1-0.23.11.1(3.3)(3.2)(2.9)(3.2)(3.4)(3.2)(2.3)(-0.7)(4.6)(2.7)(1.4)(3.2)Note:1)FiguresinparenthesesrepresentSouthKorea’sGDPgrowthrates.-2-□Manufacturingproductionincreasedby5.9%(-4.6%in2022),duetoincreasesinbothlightindustryandheavy&chemicalindustryproduction.―Lightindustryproductionregistereda0.8%increase(5.0%in2022),asprocessingproductionincludin...
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