Analysis A statistical mirage? Scrutinizing North Korea’s claims of economic resurgenceWhile likely inaccurate, figures showing 12% annual growth may reflect country’s trajectory as it recovers from pandemic North Korean leader Kim Jong Un made a number of surprising announcements about the country’s economy at a year-end plenum last week, painting a picture of significant growth after years of lackluster performance. According to official figures, the economy has undergone massive improvements since 2020, with the country already hitting a target growth rate under its current five-year plan (2021-25). While the plenum outcome indicated that some sectors of the economy have stagnated in the last year, others like power, coal and fertilizer, have reportedly seen rapid growth. There have been huge increases © Korea Risk Group. All rights reserved. |