North Korea’s economy grew 3-point-7 percent in 2024, its strongest expansion in eight years, driven by state-led projects and expanded cooperation with Russia, according to estimates released by South Korea’s central bank on Friday.

Applying the UN System of National Accounts methodology, the Bank of Korea estimated real GDP at over 36-point-97 trillion won, approximately 26-point-6 billion U.S. dollars, marking a second consecutive year of growth following 3-point-1 percent in 2023.

Manufacturing expanded 7 percent on capacity growth and rising weapons exports, while mining and construction rose 8-point-8 percent and 12-point-3 percent, respectively, but agriculture, forestry, and fisheries contracted 1-point-9 percent.

Nominal GNI reached 44-point-4 trillion won, just 1-point-7 percent of South Korea’s total, with per capita income at 3-point-4 percent of the South’s level.

External trade totaled 2-point-7 billion U.S. dollars, down 2-point-6 percent from a year earlier, as exports rose but imports fell, while inter-Korean trade remained at zero for the second consecutive year.