International sanctions not a concern for some market vendors in North Korea
North Korea’s markets continue to face stagnation despite a steady stream of market goers and products being sold. Market vendors, however, say that sales have fallen because customers just don’t have as much money on hand.
Daily NK recently conducted an interview with a resident living on the outskirts of Pyongyang. This is what she had to say.
“Ordinary North Koreans don’t have much money on hand anymore due to economic stagnation over the past three years. Markets open and people go there, but that’s just to look around. They don’t buy anything. Vendors still try to sell their wares because that’s the only way they can survive. They yell out for people to come and look at what they’re selling even if no one responds.”
The source told Daily NK that since 2016, when international sanctions were implemented in full force, the country’s economy faltered and most consumers now only buy cheap corn and vegetables at the market, rarely buying anything else.
“Electronic goods, freezers and other products were hot items three years ago, but nobody buys them now. Vendors sell Chinese-made electronics for only 150 dollars, but people don’t buy them because there’s no electricity to use them.”
This situation has led to an increased burden on the working class. Traders are facing reduced income because sales have dropped but still have to pay market fees. ......