Macro - Country Economic Forecasts - North Korea

Macro - Country Economic Forecasts - North Korea

We think North Korea's GDP will grow by 1.8% in 2022, after contracting 0.1% in 2021 and 4.5% in 2020. Indeed, North Korea's trade with China has shown some signs of life following the resumption of railway links early this year, after having been shut since 2020 in response to the coronavirus pandemic. Still, international sanctions imposed since 2017 will continue to weigh on trade, while any future Covid outbreaks and tight restrictions would constrain domestic activity.

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