North Korea - Economy
How is the economy of North Korea? Based on the information we have, North Korea has a one of the last centrally planned economies; hard hit by COVID-19, crop failures, international sanctions, and isolationist policies; declining growth and trade, and heavily reliant on China; poor exchange rate stability; economic data integrity issues. Key agricultural products in this country include: maize, vegetables, rice, apples, cabbages, fruits, sweet potatoes, potatoes, beans, soybeans (2023).
More about the economy of North Korea
Labor force 17.637 million (2024 est.)
Industrial production growth rate
Industries 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
Population below poverty line
Taxes and other revenues
Fiscal year
Exchange rates
Currency North Korean won (KPW) per US dollar (average market rate)
Exchange rates 2017 135 (2017 est.)
Exchange rates 2016 130 (2016 est.)
Exchange rates 2015 130 (2015 est.)
Budget surplus (+) or deficit (-)
Imports (partners) China 97%, Togo 1%, Peru 1%, Gabon 1%, India 0% (2023)
Comodities Imports force processed hair, plastic products, garments, fabric, soybean oil (2023)
Exports (partners) China 74%, Poland 3%, Senegal 3%, Angola 3%, Austria 3% (2023)
Comodities Exports force fake hair, iron alloys, tungsten ore, electricity, cars (2023)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2023 $15.416 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $14.959 billion (2022 est.)
Real GDP (purchasing power parity) 2021 $14.982 billion (2021 est.)
GDP (official exchange rate) $16.447 billion (2023 est.)
Real GDP Per capita
Real GDP per capita 2023 $600 (2023 est.)
Real GDP per capita 2022 $600 (2022 est.)
Real GDP per capita 2021 $600 (2021 est.)
Unemployment rate
Unemployment rate 2024 2.9% (2024 est.)
Unemployment rate 2023 2.9% (2023 est.)
Unemployment rate 2022 2.9% (2022 est.)
Youth unemployment rate (ages 15-24)
Total 6.8% (2024 est.)
Male 6.1% (2024 est.)
Female 7.4% (2024 est.)
All Important Facts about North Korea

Want to know more about North Korea? Check all different factbooks for North Korea below.

North Korea is found in Eastern Asia