In 2023, the contribution of government services to North Korea's real gross domestic product (GDP) was estimated at about 8.3 trillion South Korean won. According to the source, North Korea's real GDP had a year-on-year increase of 3.1 percent.

The Gross Domestic Product (GDP) in North Korea expanded 3.10 percent in the fourth quarter of 2023 over the same quarter of the previous year. This dataset provides - North Korea GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2023, South Korea's gross domestic product (GDP) grew by about 1.4 percent compared to the previous year. North Korea's GDP growth rate stood at about 3.1 percent that year, achieving positive growth for the first time after experiencing a period of negative growth during the COVID-19 pandemic.

In 2023, South Korea's nominal gross domestic product (GDP) reached approximately 2,401 trillion South Korean won, while North Korea's amounted to about 40.2 trillion South Korean won. Consequently, South Korea's nominal GDP was approximately 60 times larger than that of North Korea during that year. Moreover, North Korea's GDP growth has been notably minimal when compared to that of South Korea.North Korea's economic development North Korea's economy is centered around its capital city and military, with particular emphasis on the expansion of its nuclear capabilities in recent decades. Roughly 98 percent of foreign trade has been with China in the past decade, from whom North Korea imports large volume of mechanical and electronic goods. Food shortages, exacerbated by the Covid-19 pandemic, are a reoccurring issue for North Korea, as poor harvests, international sanctions, and a downturn in inter-Korean trade have created sourcing problems - the full extent of this issue remains unknown, but it is estimated that almost half the population is undernourished. Kaesong Industrial ComplexThe Kaesong Industrial Complex project began in 2000 and was a crucial part of South Korea's efforts to improve relations with North Korea. It aimed to foster cooperation between the two Koreas and promote stability in the region. The industrial park, located in Kaesong, North Korea, was intended to provide a platform for small and medium-sized South Korean companies. South Korea would provide the necessary capital and infrastructure, while North Korean workers would be tasked with manufacturing products, aiming to stimulate economic growth on both sides of the border. Unfortunately, the complex was affected by tensions between the two Koreas and shut down in 2016. It has not been reopened since.

In 2023, North Korea's GDP growth rate reached approximately 3.1 percent, marking the first positive growth after a period of decline during the COVID-19 pandemic. Following increased international sanctions in 2017, North Korea's economy mostly experienced negative growth.

GDP from Services in North Korea increased to 11096.20 KPW Billion in 2023 from 10912.10 KPW Billion in 2022. This dataset provides - North Korea Gdp From Services- actual values, historical data, forecast, chart, statistics, economic calendar and news.

GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.

In 2023, it was estimated that government services accounted for approximately 24 percent of North Korea's nominal gross domestic product (GDP), followed by agriculture, forestry, and fishing. According to the source, North Korea's real GDP experienced a year-on-year increase of about 3.1 percent.

North Korea: GDP per capita, current U.S. dollars: The latest value from is U.S. dollars, unavailable from U.S. dollars in . In comparison, the world average is 0.00 U.S. dollars, based on data from countries. Historically, the average for North Korea from to is U.S. dollars. The minimum value, U.S. dollars, was reached in while the maximum of U.S. dollars was recorded in .

GDP from Utilities in North Korea decreased to 1967.80 KPW Billion in 2023 from 2064.30 KPW Billion in 2022. This dataset provides - North Korea Gdp From Utilities- actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2023, the gross domestic product (GDP) growth rate for the manufacturing sector in North Korea was about 5.9 percent, showing the first positive growth after years of negative growth. North Korea's overall GDP growth rate was estimated at about 3.1 percent that year. Overall, North Korea's economy has been mainly experiencing negative growth, particularly after increased international sanctions in 2017 and the following COVID-19 pandemic.

GDP from Transport in North Korea increased to 386.10 KPW Billion in 2022 from 327.70 KPW Billion in 2021. This dataset provides - North Korea Gdp From Transport- actual values, historical data, forecast, chart, statistics, economic calendar and news.

North Korea: Capital investment as percent of GDP: The latest value from is percent, unavailable from percent in . In comparison, the world average is 0.00 percent, based on data from countries. Historically, the average for North Korea from to is percent. The minimum value, percent, was reached in while the maximum of percent was recorded in .

GDP from Mining in North Korea increased to 2823.70 KPW Billion in 2023 from 2751.40 KPW Billion in 2022. This dataset provides - North Korea Gdp From Mining- actual values, historical data, forecast, chart, statistics, economic calendar and news.

North Korea: Fiscal balance, percent of GDP: The latest value from is percent, unavailable from percent in . In comparison, the world average is 0.00 percent, based on data from countries. Historically, the average for North Korea from to is percent. The minimum value, percent, was reached in while the maximum of percent was recorded in .

GDP from Agriculture in North Korea increased to 7216 KPW Billion in 2023 from 7146.70 KPW Billion in 2022. This dataset provides - North Korea Gdp From Agriculture- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The statistic shows gross domestic product (GDP) of South Korea from 1987 to 2023, with projections up until 2029. GDP or gross domestic product is the sum of all goods and services produced in a country in a year; it is a strong indicator of economic strength. In 2023, South Korea's GDP was around 1.71 trillion U.S. dollars. See global GDP for a global comparison.

South Korea’s economy

South Korea is doing quite well economically. It is among the leading export countries worldwide, it mainly exports electronics, automobiles and machinery. South Korea is also one of the leading import countries worldwide. Additionally, it is one of the leading countries with the largest proportion of global domestic product / GDP based on Purchasing Power Parity (PPP). Its GDP has been increasing for the last few years, while the gross domestic product / GDP growth in South Korea has not been steady but increasing since 2009.

South Korea is an OECD member and a member of the G20 states. Among the latter, its GDP growth was higher than that of the United States or the European Union in 2013. South Korea is one of the fastest-growing economies worldwide. Its standard of living is also considered to be quite high, the unemployment rate, which is one key factor, has been at around 3 percent, give or take a few percentage points, for the past decade. As a comparison, the United States’ unemployment rate was almost twice, sometimes three times as high as in South Korea during the same period. As for employment, South Korea’s rate is almost the same as that of the United States or France, with more than 60 percent of employed persons in the population.

North Korea KP: Adjusted Savings: Net Forest Depletion data was reported at 0.000 USD mn in 2016. This stayed constant from the previous number of 0.000 USD mn for 2015. North Korea KP: Adjusted Savings: Net Forest Depletion data is updated yearly, averaging 0.000 USD mn from Dec 1970 (Median) to 2016, with 47 observations. North Korea KP: Adjusted Savings: Net Forest Depletion data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s North Korea – Table KP.World Bank.WDI: Gross Domestic Product: Nominal. Net forest depletion is calculated as the product of unit resource rents and the excess of roundwood harvest over natural growth.; ; World Bank staff estimates based on sources and methods described in 'The Changing Wealth of Nations 2018: Building a Sustainable Future' (Lange et al 2018).; ;

North Korea KP: Adjusted Savings: Carbon Dioxide Damage data was reported at 994.074 USD mn in 2016. This records a decrease from the previous number of 1.091 USD bn for 2015. North Korea KP: Adjusted Savings: Carbon Dioxide Damage data is updated yearly, averaging 1.186 USD bn from Dec 1998 (Median) to 2016, with 19 observations. The data reached an all-time high of 1.632 USD bn in 2009 and a record low of 777.518 USD mn in 1998. North Korea KP: Adjusted Savings: Carbon Dioxide Damage data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s North Korea – Table KP.World Bank.WDI: Gross Domestic Product: Nominal. Cost of damage due to carbon dioxide emissions from fossil fuel use and the manufacture of cement, estimated to be US$30 per ton of CO2 (the unit damage in 2014 US dollars for CO2 emitted in 2015) times the number of tons of CO2 emitted.; ; World Bank staff estimates based on sources and methods described in 'The Changing Wealth of Nations 2018: Building a Sustainable Future' (Lange et al 2018).; ;

GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. Data are in current U.S. dollars. GNI, calculated in national currency, is usually converted to U.S. dollars at official exchange rates for comparisons across economies, although an alternative rate is used when the official exchange rate is judged to diverge by an exceptionally large margin from the rate actually applied in international transactions. To smooth fluctuations in prices and exchange rates, a special Atlas method of conversion is used by the World Bank. This applies a conversion factor that averages the exchange rate for a given year and the two preceding years, adjusted for differences in rates of inflation between the country, and through 2000, the G-5 countries (France, Germany, Japan, the United Kingdom, and the United States). From 2001, these countries include the Euro area, Japan, the United Kingdom, and the United States.