In 2023, South Korea's nominal gross domestic product (GDP) reached approximately ***** trillion South Korean won, while North Korea's amounted to about **** trillion South Korean won. Consequently, South Korea's nominal GDP was approximately ** times larger than that of North Korea during that year. Moreover, North Korea's GDP growth has been notably slower than 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 ** percent of foreign trade has been with China in the past decade, from which it imports mainly intermediate goods and raw materials. Food shortages, exacerbated by the COVID-19 pandemic, are a recurring 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 **** 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.

The Gross Domestic Product (GDP) in North Korea was worth 18 billion US dollars in 2019, according to official data from the World Bank. The GDP value of North Korea represents 0.02 percent of the world economy. This dataset provides - North Korea GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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

The Gross Domestic Product (GDP) in South Korea was worth 1712.79 billion US dollars in 2023, according to official data from the World Bank. The GDP value of South Korea represents 1.62 percent of the world economy. This dataset provides - South Korea GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

South Korea GDP for 2023 was 1.713 trillion US dollars, a 2.32% increase from 2022.

<ul style='margin-top:20px;'>

<li>South Korea GDP for 2022 was <strong>1.674 trillion US dollars</strong>, a <strong>7.95% decline</strong> from 2021.</li>
<li>South Korea GDP for 2021 was <strong>1.818 trillion US dollars</strong>, a <strong>10.59% increase</strong> from 2020.</li>
<li>South Korea GDP for 2020 was <strong>1.644 trillion US dollars</strong>, a <strong>0.43% decline</strong> from 2019.</li>
</ul>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.

The statistic shows gross domestic product (GDP) of South Korea from 1987 to 2024, 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 2024, South Korea's GDP was around 1.87 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: Political globalization index (0-100): The latest value from 2017 is 33.14 points, an increase from 32.95 points in 2016. In comparison, the world average is 62.63 points, based on data from 201 countries. Historically, the average for North Korea from 1970 to 2017 is 25.37 points. The minimum value, 18.54 points, was reached in 1970 while the maximum of 33.48 points was recorded in 2015.

North Korea is the 170 least corrupt nation out of 180 countries, according to the 2024 Corruption Perceptions Index reported by Transparency International. This dataset provides the latest reported value for - North Korea Corruption Rank - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The average for 2024 based on 174 countries was 59 index points. The highest value was in Singapore: 84 index points and the lowest value was in North Korea: 3 index points. The indicator is available from 1995 to 2024. Below is a chart for all countries where data are available.

In 2023, North Korea's military spending accounted for over 36 percent of its gross domestic product (GDP), ranking it second in the list of countries with the highest share of military expenditure in GDP. Additionally, North Korea had the highest military expenditure per capita among these countries.

Exports in North Korea increased to 387.93 USD Million in 2024 from 386.89 USD Million in 2023. This dataset provides - North Korea Exports - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The gross domestic product (GDP) per capita in South Korea was forecast to continuously increase between 2024 and 2030 by in total 5,762.76 U.S. dollars (+15.95 percent). After the seventh consecutive increasing year, the GDP per capita is estimated to reach 41,891.75 U.S. dollars and therefore a new peak in 2030. This indicator describes the gross domestic product per capita at current prices. Thereby the gross domestic product was first converted from national currency to U.S. dollars at current exchange prices and then divided by the total population. The gross domestic products is a measure of a country's productivity. It refers to the total value of goods and service produced during a given time period (here a year).Find more key insights for the gross domestic product (GDP) per capita in countries like Mongolia, Japan, and Taiwan.

The average for 2024 based on 175 countries was 62 points. The highest value was in Denmark: 93 points and the lowest value was in North Korea: 5 points. The indicator is available from 1995 to 2024. Below is a chart for all countries where data are available.

The average for 2023 based on 193 countries was -0.03 points. The highest value was in Singapore: 2.31 points and the lowest value was in North Korea: -2.39 points. The indicator is available from 1996 to 2023. Below is a chart for all countries where data are available.

The average for 2023 based on 192 countries was -0.03 points. The highest value was in Norway: 1.78 points and the lowest value was in North Korea: -1.98 points. The indicator is available from 1996 to 2023. Below is a chart for all countries where data are available.

In 1800, it is estimated that approximately 9.4 million people lived in the region of modern-day South Korea (and 13.8 million on the entire peninsula). The population of this region would remain fairly constant through much of the 19th century, but would begin to grow gradually starting in the mid-1800s, as the fall of the Joseon dynasty and pressure from the U.S. and Japan would end centuries of Korean isolationism. Following the opening of the country to foreign trade, the Korean peninsula would begin to modernize, and by the start of the 20th century, it would have a population of just over ten million. The Korean peninsula was then annexed by Japan in 1910, whose regime implemented industrialization and modernization policies that saw the population of South Korea rising from just under ten million in 1900, to over fifteen million by the start of the Second World War in 1939.

The Korean War Like most regions, the end of the Second World War coincided with a baby boom, that helped see South Korea's population grow by almost two million between 1945 and 1950. However, this boom would stop suddenly in the early 1950s, due to disruption caused by the Korean War. After WWII, the peninsula was split along the 38th parallel, with governments on both sides claiming to be the legitimate rulers of all Korea. Five years of tensions then culminated in North Korea's invasion of the South in June 1950, in the first major conflict of the Cold War. In September, the UN-backed South then repelled the Soviet- and Chinese-backed Northern army, and the frontlines would then fluctuate on either side of the 38th parallel throughout the next three years. The war came to an end in July, 1953, and had an estimated death toll of three million fatalities. The majority of fatalities were civilians on both sides, although the North suffered a disproportionate amount due to extensive bombing campaigns of the U.S. Unlike North Korea, the South's total population did not fall during the war.

Post-war South Korea Between the war's end and the late 1980s, the South's total population more than doubled. In these decades, South Korea was generally viewed as a nominal democracy under authoritarian and military leadership; it was not until 1988 when South Korea transitioned into a stable democracy, and grew its international presence. Much of South Korea's rapid socio-economic growth in the late 20th century was based on the West German model, and was greatly assisted by Japanese and U.S. investment. Today, South Korea is considered one of the world's wealthiest and most developed nations, ranking highly in terms of GDP, human development and life expectancy; it is home to some of the most valuable brands in the world, such as Samsung and Hyundai; and has a growing international cultural presence in music and cinema. In the past decades, South Korea's population growth has somewhat slowed, however it remains one of the most densely populated countries in the world, with total population of more than 51 million people.

The average for 2024 based on 174 countries was 56 points. The highest value was in Austria: 79 points and the lowest value was in North Korea: 5 points. The indicator is available from 2005 to 2024. Below is a chart for all countries where data are available.

The average for 2023 based on 171 countries was 0.571 index points. The highest value was in Australia: 0.989 index points and the lowest value was in North Korea: 0.003 index points. The indicator is available from 1960 to 2023. Below is a chart for all countries where data are available.

The average for 2022 based on 13 countries was 12.3 percent. The highest value was in North Korea: 48.8 percent and the lowest value was in Democratic Republic of the Congo: 0.5 percent. The indicator is available from 2000 to 2022. Below is a chart for all countries where data are available.

The average for 2022 based on 28 countries was 1081.95 thousand short tons. The highest value was in North Korea: 23866.11 thousand short tons and the lowest value was in Burkina Faso: 0 thousand short tons. The indicator is available from 1980 to 2023. Below is a chart for all countries where data are available.