ÿþ<html> <head> <title> Korea, North Economy 2013, CIA World Factbook </title> <META NAME="Description" CONTENT="Korea, North Economy 2013, CIA World Factbook"> <META NAME="keywords" CONTENT="Korea, North, Economy, 2013, CIA, World, Factbook"> <script language="JavaScript"> function AddToFaves_hp(){ var is_4up = parseInt(navigator.appVersion); var is_mac = navigator.userAgent.toLowerCase().indexOf("mac")!=-1; var is_ie = navigator.userAgent.toLowerCase().indexOf("msie")!=-1; var thePage = location.href; if (thePage.lastIndexOf('#')!=-1) thePage = thePage.substring(0,thePage.lastIndexOf('#')); if (is_ie && is_4up && !is_mac) window.external.AddFavorite(thePage,document.title); else if (is_ie || document.images) booker_hp = window.open(thePage,'booker_','menubar,width=325,height=100,left=140,top=60'); //booker_hp.focus(); } //--> </script> <script type="text/javascript"> (function() { var po = document.createElement('script'); po.type = 'text/javascript'; po.async = true; po.src = 'https://apis.google.com/js/plusone.js'; 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/* WFB Medium Rectangle */ google_ad_slot = "5200087626"; google_ad_width = 300; google_ad_height = 250; //--> </script> <script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js"> </script> <br> Page last updated on February 5, 2013 <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#economy_overview">Economy - overview:</a></b><br> North Korea, one of the world's most centrally directed and least open economies, faces chronic economic problems. Industrial capital stock is nearly beyond repair as a result of years of underinvestment, shortages of spare parts, and poor maintenance. Large-scale military spending draws off resources needed for investment and civilian consumption. Industrial and power output have stagnated for years at a fraction of pre-1990 levels. Frequent weather-related crop failures aggravated chronic food shortages caused by on-going systemic problems, including a lack of arable land, collective farming practices, poor soil quality, insufficient fertilization, and persistent shortages of tractors and fuel. Large-scale international food aid deliveries have allowed the people of North Korea to escape widespread starvation since famine threatened in 1995, but the population continues to suffer from prolonged malnutrition and poor living conditions. Since 2002, the government has allowed private "farmers' markets" to begin selling a wider range of goods. It also permitted some private farming - on an experimental basis - in an effort to boost agricultural output. In December 2009, North Korea carried out a redenomination of its currency, capping the amount of North Korean won that could be exchanged for the new notes, and limiting the exchange to a one-week window. A concurrent crackdown on markets and foreign currency use yielded severe shortages and inflation, forcing Pyongyang to ease the restrictions by February 2010. In response to the sinking of the South Korean destroyer Cheonan and the shelling of Yeonpyeong Island, South Korea's government cut off most aid, trade, and bilateral cooperation activities, with the exception of operations at the Kaesong Industrial Complex. In 2012, KIM Jong Un's first year of leadership, the North displayed increased focus on the economy by renewing its commitment to special economic zones with China, negotiating a new payment structure to settle its $11 billion Soviet-era debt to Russia, and purportedly proposing new agricultural and industrial policies to boost domestic production. The North Korean government often highlights its goal of becoming a "strong and prosperous" nation and attracting foreign investment, a key factor for improving the overall standard of living. Nevertheless, firm political control remains the government's overriding concern, which likely will inhibit fundamental reforms of North Korea's current economic system. <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#GDP">GDP</a> (purchasing power parity):</b><br> $40 billion (2011 est.) <br><span style="padding-left:7px;">country comparison to the world: 103 <div class="category_data" style="padding-top: 3px;">$40 billion (2010 est.) <div class="category_data" style="padding-top: 3px;">$40 billion (2009 est.) <br><i> <em>note:</em> </i>data are in 2011 US dollars; <div class="category_data" style="padding-top: 3px;">North Korea does not publish reliable National Income Accounts data; the data shown here are derived from purchasing power parity (PPP) GDP estimates for North Korea that were made by Angus MADDISON in a study conducted for the OECD; his figure for 1999 was extrapolated to 2011 using estimated real growth rates for North Korea's GDP and an inflation factor based on the US GDP deflator; the results were rounded to the nearest $10 billion. <br>[see also: <a href="http://www.photius.com/rankings/economy/gdp_purchasing_power_parity_2013_0.html" target="_blank"><u>GDP country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#gdp_official_exchange_rate">GDP (official exchange rate):</a></b><br> $28 billion (2009 est.) <br>[see also: <a href="http://www.photius.com/rankings/economy/gdp_official_exchange_rate_2013_0.html" target="_blank"><u>GDP (official exchange rate) country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#gdp_real_growth_rate">GDP - real growth rate:</a></b><br> 0.8% (2011 est.) <br><span style="padding-left:7px;">country comparison to the world: 170 <div class="category_data" style="padding-top: 3px;">-0.5% (2010 est.) <div class="category_data" style="padding-top: 3px;">-0.9% (2009 est.) <br>[see also: <a href="http://www.photius.com/rankings/economy/gdp_real_growth_rate_2013_0.html" target="_blank"><u>GDP - real growth rate country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#gdp_per_capita">GDP - per capita:</a></b><br> $1,800 (2011 est.) <br><span style="padding-left:7px;">country comparison to the world: 197 <div class="category_data" style="padding-top: 3px;">$1,800 (2010 est.) <div class="category_data" style="padding-top: 3px;">$1,900 (2009 est.) <br><i> <em>note:</em> </i>data are in 2012 US dollars <br>[see also: <a href="http://www.photius.com/rankings/economy/gdp_per_capita_2013_0.html" target="_blank"><u>GDP - per capita country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#gdp_composition_by_sector">GDP - composition by sector:</a></b><br> <i>agriculture: </i>23.1% <br>[see also: <a href="http://www.photius.com/rankings/economy/gdp_composition_by_sector_agriculture_2013_0.html" target="_blank"><u>GDP - composition by sector - agriculture country ranks</u></a> ] <br><i> industry: </i>47.5% <br><i> services: </i>29.4% (2011 est.) <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#labor_force">Labor force:</a></b><br> 12.2 million <br><span style="padding-left:7px;">country comparison to the world: 44 <br><i> <em>note:</em> </i>estimates vary widely (2009 est.) <br>[see also: <a href="http://www.photius.com/rankings/economy/labor_force_2013_0.html" target="_blank"><u>Labor force country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#labor_force_by_occupation">Labor force - by occupation:</a></b><br> <i>agriculture: </i>35% <br>[see also: <a href="http://www.photius.com/rankings/economy/labor_force_by_occupation_agriculture_2013_0.html" target="_blank"><u>Labor force - by occupation - agriculture country ranks</u></a> ] <br><i> industry and services: </i>65% (2008 est.) <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#unemployment_rate">Unemployment rate:</a></b><br> NA% <br>[see also: <a href="http://www.photius.com/rankings/economy/unemployment_rate_2013_0.html" target="_blank"><u>Unemployment rate country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#population_below_poverty_line">Population below poverty line:</a></b><br> NA% <br>[see also: <a href="http://www.photius.com/rankings/economy/population_below_poverty_line_2013_0.html" target="_blank"><u>Population below poverty line country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#household_income_or_consumption_by_percentage_share">Household income or consumption by percentage share:</a></b><br> <i>lowest 10%: </i>NA% <br>[see also: <a href="http://www.photius.com/rankings/economy/household_income_or_consumption_by_percentage_share_lowest_10pct_2013_0.html" target="_blank"><u>Household income or consumption by percentage share - lowest 10% country ranks</u></a> ] <br><i> highest 10%: </i>NA% <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#budget">Budget:</a></b><br> <i>revenues: </i>$3.2 billion <br>[see also: <a href="http://www.photius.com/rankings/economy/budget_revenues_2013_0.html" target="_blank"><u>Budget revenues country ranks</u></a> ] <br><i> expenditures: </i>$3.3 billion (2007 est.) <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#taxes_and_other_revenues">Taxes and other revenues:</a></b><br> 11.4% of GDP <br><span style="padding-left:7px;">country comparison to the world: 205 <br><i> <em>note:</em> </i>excludes earnings from state-operated enterprises (2007 est.) <br>[see also: <a href="http://www.photius.com/rankings/economy/taxes_and_other_revenues_2013_0.html" target="_blank"><u>Taxes and other revenues country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#budget_surplus_or_deficit">Budget surplus (+) or deficit (-):</a></b><br> -0.4% of GDP (2007 est.) <br><span style="padding-left:7px;">country comparison to the world: 49 <br>[see also: <a href="http://www.photius.com/rankings/economy/budget_surplus_or_deficit_2013_0.html" target="_blank"><u>Budget surplus (+) or deficit (-) country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#inflation_rate_consumer_prices">Inflation rate (consumer prices):</a></b><br> NA% <br>[see also: <a href="http://www.photius.com/rankings/economy/inflation_rate_2013_0.html" target="_blank"><u>Inflation rate (consumer prices) country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#agriculture_products">Agriculture - products:</a></b><br> rice, corn, potatoes, soybeans, pulses; cattle, pigs, pork, eggs <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#industries">Industries:</a></b><br> military products; machine building, electric power, chemicals; mining (coal, iron ore, limestone, magnesite, graphite, copper, zinc, lead, and precious metals), metallurgy; textiles, food processing; tourism <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#industrial_production_growth_rate">Industrial production growth rate:</a></b><br> NA% <br>[see also: <a href="http://www.photius.com/rankings/economy/industrial_production_growth_rate_2013_0.html" target="_blank"><u>Industrial production growth rate country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#exports">Exports:</a></b><br> $4.707 billion (2011) <br><span style="padding-left:7px;">country comparison to the world: 117 <div class="category_data" style="padding-top: 3px;">$4.706 billion (2010 est.) <br>[see also: <a href="http://www.photius.com/rankings/economy/exports_2013_0.html" target="_blank"><u>Exports country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#exports_commodities">Exports - commodities:</a></b><br> minerals, metallurgical products, manufactures (including armaments), textiles, agricultural and fishery products <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#exports_partners">Exports - partners:</a></b><br> China 67.2%, South Korea 19.4%, India 3.6% (2011 est.) <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#imports">Imports:</a></b><br> $4 billion (2011 est.) <br><span style="padding-left:7px;">country comparison to the world: 137 <div class="category_data" style="padding-top: 3px;">$2.934 billion (2010 est.) <br>[see also: <a href="http://www.photius.com/rankings/economy/imports_2013_0.html" target="_blank"><u>Imports country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#imports_commodities">Imports - commodities:</a></b><br> petroleum, coking coal, machinery and equipment, textiles, grain <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#imports_partners">Imports - partners:</a></b><br> China 61.6%, South Korea 20%, European Union 4% (2011 est.) <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#debt_external">Debt - external:</a></b><br> $12.5 billion (2001 est.) <br><span style="padding-left:7px;">country comparison to the world: 87 <br>[see also: <a href="http://www.photius.com/rankings/economy/debt_external_2013_0.html" target="_blank"><u>Debt - external country ranks</u></a> ] <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#exchange_rates">Exchange rates:</a></b><br> North Korean won (KPW) per US dollar (market rate) <div class="category_data" style="padding-top: 3px;">137 (2012 est.) <div class="category_data" style="padding-top: 3px;">140 (2011 est.) <div class="category_data" style="padding-top: 3px;">145 (2010 est.) <div class="category_data" style="padding-top: 3px;">3,630 (December 2008) <div class="category_data" style="padding-top: 3px;">140 (2007) <p><b><a href = "http://www.theodora.com/wfb/wfb2000/definitions.html#fiscal_year">Fiscal year:</a></b><br> calendar year </font> <p> <p> <BR> <P> <font size = "-2"><B> NOTE: The information regarding Korea, North on this page is re-published from the 2013 World Fact Book of the United States Central Intelligence Agency. 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