Economic Overview

GDP (PPP, billion USD): 40 (2019 estimate)

GDP Per Capita (USD): 1.716 (2016 estimate)

Growth rate (%): 0,4

Unemployment rate (%): 3,3

Main Trade Partner: China (92%)

Main Export Items: Mineral ores, arms, textiles, agricultural and fishery products

Main Import Items: Petroleum and petroleum products, machinery, grains

Democratic People’s Republic of Korea (North Korea) has one of the most closed economies in the world. Despite the significant coal mines and mineral deposits in the country, North Korea experiences shortage of many essential consumption goods and needs international aid, particularly for food supply.

UN Security Council sanctions, as well as closed borders due to Covid-19 restrictions, have negative impacts on economic development.