North Korean leader unveils 5-year plan for economy, but no radical reforms - News Summed Up

North Korean leader unveils 5-year plan for economy, but no radical reforms


South Korea’s central bank estimated North Korea’s gross national income at $29 billion in 2014. North Korea has few trading partners; the largest ones are China and South Korea. Foreign trade, he said “should be widely developed, and with credibility.”After collapsing in the 1990s, North Korea’s economy has experienced a rebound of sorts. Last year, they accounted for about 90% of North Korea’s trade. North Korea has not published economic statistics since the 1960s, making precise calculation of its Gross Domestic Product impossible.


Source: Los Angeles Times May 08, 2016 03:38 UTC



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