Cumulative capital in North Korea has expanded around 24 percent over the past 30 years, but the increased capital did not contribute very much to growth due to the country's low productivity.

According to a latest report by the Bank of Korea(BOK)'s North Korean economy research center on Monday, the reclusive country's capital stock jumped 24 percent from 162 billion won in 1989 to 200 billion won as of 2018.

Capital stock compared to the country's gross domestic product(GDP) is estimated to be about three-point-nine times larger, which is higher compared to around three times found in other countries.

The report said the figure reflects low productivity and inefficiencies in the North Korean economy that has led to its stagnant growth.

Only eight percent of the capital stock was facility assets, which is far lower compared to South Korea's average of 32 percent between 1970s to 1990s.

The report recommended that the North reform its ownership structure and the way it operates its businesses and agricultural facilities, while opening up its economy to adopt technologies and capital from developed countries.