Bank of Korea Date: 2014 North Korean economy grew 1%

SEOUL, July 17 – South Korea's central bank [microblogging] said on Friday, the North Korean economy in 2014 grew by 1%。Drought is expected to affect North Korea's economic growth this year。  Following negative growth in 2010, after which the North Korean economy for four consecutive years of positive growth, but low growth。2013 North Korea's GDP growth of 1.1%。  The Bank of Korea said in an annual report, North Korea last year's economic growth is characterized by signs of growth in the service sector, as well as rising private consumption appears。  North Korea and this year's drought damage or economic activities, North Korea said it was the country's worst drought in a century, but South Korea said the drought seems to alleviate。  North Korea is not the only government agency released economic data, the Bank of Korea on the Korean official estimate of economic performance。  The data does not include North Korea in recent years, the steady growth of the black economy activity。According to residents and tourists, the black economy activity has created a number of North Korea's demand for cosmetics, smart phones, juices and foreign upscale clothing。The Bank of Korea said North Korea last year's economic growth was mainly due to growth in services and construction, while agriculture, mining and manufacturing growth slower。  The Bank of Korea estimates North Korea's gross national income 34.2 trillion won (298.$ 500 million)。Per capita gross national income of a South Korean affluence is 21 times North Korea。(End) compilation: Luo Yan Liu SOURCE: Cheng Fang (Reuters Chinese network)