N. Korea’s economy growing for third consecutive year as Russia ties boost trade and arms production

South Korea says North Korea’s economy has grown by more than 3% for the third consecutive year, driven largely by expanded economic cooperation with Russia.

As reported by Ukrinform, Yonhap cited data from the Bank of Korea (BOK).

According to Seoul’s estimates, North Korea’s gross domestic product (GDP) grew by 3.5% last year, following growth of 3.7% in 2024 and 3.1% in 2023.

“Expanded economic cooperation with Russia, increased trade with China and national policy projects helped North Korea post growth of more than 3 percent for three consecutive years. In particular, the North's real GDP has surpassed its 2017 level, when United Nations sanctions were imposed,” a BOK official said.

The report notes that Pyongyang sent around 15,000 troops to assist Russia in its war against Ukraine after North Korean leader Kim Jong-un and Russian President Vladimir Putin signed a strategic partnership treaty in June 2024.