North Korea's Economic Development: An Overview
A Historical Perspective on GDP
From 1970 to 2019, North Korea's GDP averaged 1179 USD Billion, reaching a peak of 1800 USD Billion in 2019 and a low of 485 USD Billion.
Following the Korean War, North Korea initially had a similar GDP per capita to its neighbor South Korea. However, from the mid-1970s onward, the gap between their economic performances widened significantly.
Recent Economic Trends
North Korea's GDP for 2022 was estimated to be 000B, a notable decline from 2021. Similarly, in 2021, GDP fell from the previous year.
Despite these economic challenges, defense spending remains a high priority for the North Korean regime. Between 2010 and 2020, military expenditures accounted for an estimated 20-30% of the country's budget.
Key Economic Metrics
Population:
N/A
GDP:
000B (2022)
Life Expectancy:
N/A
Birth Rate:
N/A
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