The GDP Of North Korea was 19 Billion Dollars In 2021
but the economy shrank by 0.01 in 2021
Alot of areas where their economy was shrank in mining,food,beverages & tobacco products and chemicals; and services
Whereas Increase were seen at increases were seen in the output for agriculture, forestry & fishing ,electricity, gas & water, namely hydroelectric power generation; and construction, mainly residential building construction
In 2015,The Main GDP Area was in service sector and mainly goverment sector
The main thing here to see about is over the sanctions layed by the west
The sanctions ban the trade of weapons and military equipment, freeze the assets of people involved in the nuclear program, and restrict scientific cooperation, among other actions
and not only west has imposed the sanctions but the neighbouring countries-South korea,Japan
South Korea has imposed unilateral sanctions on Pyongyang since 2010. Its latest came in 2017, when it sanctioned twenty organizations and thirty individuals related to North Korea’s missile program, mirroring U.S. unilateral sanctions.
but it has also depleted the effect of sanctions as south korea offers to help north korea during the covid pandemic but north korea has never accepted their offerings.
Japan has also restricted commercial and diplomatic exchanges with North Korea, imposing sanctions starting in 2006They freeze certain North Korean and Chinese assets, ban bilateral trade with North Korea, restrict the entry of North Korean citizens and ships into Japanese territory, and prohibit remittances worth more than $880m. Japan has also played a sanctions monitoring role, tracking North Korean cargo transfers in regional waters. In 2022, Japan sanctioned thirteen organizations and individuals involved in North Korea’s missile and nuclear development.
All These sanctions have not done much to stop the nuclear administration to be ahead as Kim Jong Un has done more missiles then ever since he took power in 2021 here is the graph showing the number of tests
The Question now here Arises is
Is More Sanctions The Answer ?
we need to remembe they have close bilateral relations with russia and china
if more strong sanctions are imposed it wont only make the matters worse with north korea but with russi and china too which the west cannot afford to do it
thus is concludes that the currenct sanctions will take alot of time to show its true colours and ruin the economy of north korea but in the near future its hard to say that it wont do much to them yet
Yocki
SepratX 