Includes North Korea real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about North Korea economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of North Korea best banks and safest banks are also available.
Basic Information
Government Type: Dictatorship, single-party state; official state ideology of “Juche” or “national self-reliance”
Capital City: Pyongyang
GDP & Economic Information
Macroeconomy & Sovereign Data
| Central Bank | N/A |
|---|---|
| Currency | North Korean won (KPW) per US dollar (average) |
| International Reserves | N/A |
| Gross Domestic Product – GDP | N/A |
| GDP (Purchasing Power Parity) | N/A |
GDP Data
| Real GDP growth | N/A |
|---|---|
| GDP per capita – current prices | N/A |
| GDP per capita – PPP | N/A |
| GDP (PPP) – share of world total | N/A |
| GDP – composition by sector |
agriculture: 22.5% industry: 47.6% services: 29.9% (2017 estimate) |
| Gross domestic expenditure on R&D; (% of GDP) | N/A |
| Inflation | N/A |
North Korea
Capital Raising & Corporate Finance
Hanjin: Coal Mine Canary?
Economics, Policy & Regulation
Cover: Emerging Markets Elections
Features
Americas State of TradeInflation & Debt
| Inflation | N/A |
|---|---|
| Government Bond Ratings | N/A |
| Unemployment rate | N/A |
| Household saving rates | N/A |
| Public debt (General government gross debt as a % of GDP) | N/A |
| Public deficit (General government net lending/borrowing as a % of GDP) | N/A |
| Market value of publicly traded shares | N/A |
| Largest Companies | N/A |
Import/Export
| Exports as percent of GDP (Exports of goods and services) |
N/A |
|---|---|
| Shares in world total merchandising export |
N/A |
| Shares in world total commercial services export |
N/A |
| Total exports | USD 4.2 billion (2015 estimate) |
| Export commodities | Minerals, metallurgical products, manufactures (including armaments), textiles, agricultural and fishery products |
| Total imports |
N/A |
| Import commodities |
Petroleum, coking coal, machinery and equipment, textiles, grain |
| Exports – major partners |
China 86.3% (2017) |
| Imports – major partners |
China 91.9% (2017) |
Competitiveness & Trade
| Current account balance | N/A |
|---|---|
| Current account balance by percentage of GDP | N/A |
| FDI inflows |
2016: USD 89 million 2017: USD -13 million 2018: USD 52 million |
| FDI Outflows | N/A |
| Value of cross-border M&A, by country of purchaser |
N/A United Nations Conference on Trade and Development (UNCTAD) – World Investment Report |
| Cross-border M&A deals worth over $3 billion completed in 2014 | N/A |
| Cross-border M&A deals worth over $3 billion completed in 2015 | N/A |
| Best countries for doing business |
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Overall ranking: N/A Subcategories: Starting a business: N/A Enforcing Contracts: N/A Registering Property: N/A Getting credit: N/A Protecting investors: N/A Trading across border: N/A Paying Taxes: N/A Dealing with Construction Permits: N/A Getting Electricity: N/A Resolving Insolvency: N/A |
| Global competitiveness ranking | N/A |
| Index of Economic Freedom |
Ranking: 180 / Score: 5.9 (Repressed) (100=totally free 0=totally repressed) |
Population & Geographic Data
| Time Zone |
UTC+9 |
|---|---|
| Total Area |
120,538 sq km |
| Total Population | N/A |
| Urban population as % of total population |
1960: 40.2% 1980: 56.9% 2000: 59.4% 2018: 61.9% |
| Population median age | 34.2 years |
| Population growth rate | 0.52% (2018 estimate) |
| Life expectancy | 71 years (2018 estimate) |
| % of population living on less than $3.10 a day | N/A |
| Inequality of wealth distribution (Gini index) | N/A |
| Freedom House rating |
Not Free Political Rights: 7 Civil Liberties: 7 (2019) (1 represents the most free, 7 the least free rating) |
| Total telephone subscribers as % of population |
Fixed: 50.6% Mobile: 129.7% (2018) (fixed-telephone subscribers and mobile-cellular subscribers) |
| Internet users as % of total population | 95.9 % (2018) |
Language & Religon
| Languages | Korean |
|---|---|
| Literacy |
Total population: 100% Male: 100% Female: 100% Definition: age 15 and over can read and write (2015 est.) |
| Religions | Traditionally Buddhist and Confucianist, some Christian and syncretic Chondogyo (Religion of the Heavenly Way) |
World Rankings
| Population |
N/A |
|---|---|
| Mercer Cost of living index | Seoul: 4th (2019) |
| C02 Emissions per capita |
11.57 metric tons per capita (2014) |
Global Finance Rankings & Awards: North Korea
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
Data Sources:
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000