North Korea posts 2nd successive year of growth: Bank of Korea
SEOUL (REUTERS) - North Korea's economy expanded for a second successive year in 2012, South Korea's central bank said on Friday, bolstering the claims of new leader Kim Jong Un to be pursuing economic growth alongside strengthening the country's nuclear deterrence.
The economy of the reclusive and impoverished nation grew 1.3 percent in 2012 as nearly all sectors saw improvement compared to a 0.8 percent annual growth the year before, said the Bank of Korea, one of the few sources of estimates about the economic performance of the North, which does not publish data.
Agriculture, farming and fisheries rose 3.9 percent last year in North Korea on the back of expanded use of fertiliser and an increase in pig and chicken farms, according to the Bank of Korea data, compared to a 5.3 percent growth in 2011.
Livestock farming rose 12.3 percent on an annual basis.