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 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 *** percent compared to the previous year. North Korea's GDP growth rate stood at about *** percent that year, achieving positive growth for the first time after experiencing a period of negative growth during the COVID-19 pandemic.

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.

North Korea: Gross Domestic Product, billions of 2010 U.S. dollars: The latest value from is billion U.S. dollars, unavailable from billion U.S. dollars in . In comparison, the world average is 0.0 billion U.S. dollars, based on data from countries. Historically, the average for North Korea from to is billion U.S. dollars. The minimum value, billion U.S. dollars, was reached in while the maximum of billion U.S. dollars was recorded in .

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.

North Korea gdp growth rate for was 0.00%, a 0% increase from .

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

<li>North Korea gdp growth rate for was <strong>0.00%</strong>, a <strong>0% increase</strong> from .</li>
<li>North Korea gdp growth rate for was <strong>0.00%</strong>, a <strong>0% increase</strong> from .</li>
<li>North Korea gdp growth rate for was <strong>0.00%</strong>, a <strong>0% increase</strong> from .</li>
</ul>Annual percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. GDP 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.

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.

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 KP: Adjusted Savings: Energy Depletion data was reported at 293.225 USD mn in 2016. This records an increase from the previous number of 204.494 USD mn for 2015. North Korea KP: Adjusted Savings: Energy Depletion data is updated yearly, averaging 223.396 USD mn from Dec 1971 (Median) to 2016, with 46 observations. The data reached an all-time high of 1.680 USD bn in 2008 and a record low of 4.755 USD mn in 1971. North Korea KP: Adjusted Savings: Energy 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. Energy depletion is the ratio of the value of the stock of energy resources to the remaining reserve lifetime. It covers coal, crude oil, and natural gas.; ; 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 GDP for was $0.00, a 0% increase from .

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

<li>North Korea GDP for was <strong>$0.00</strong>, a <strong>0% increase</strong> from .</li>
<li>North Korea GDP for was <strong>$0.00</strong>, a <strong>0% increase</strong> from .</li>
<li>North Korea GDP for was <strong>$0.00</strong>, a <strong>0% increase</strong> from .</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.

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).; ;

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.

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.

Historical chart and dataset showing North Korea GDP per capita by year from N/A to N/A.

North Korea KP: Adjusted Savings: Mineral Depletion data was reported at 158.620 USD mn in 2016. This records an increase from the previous number of 143.773 USD mn for 2015. North Korea KP: Adjusted Savings: Mineral Depletion data is updated yearly, averaging 26.627 USD mn from Dec 1970 (Median) to 2016, with 47 observations. The data reached an all-time high of 322.043 USD mn in 1988 and a record low of 2.115 USD mn in 1999. North Korea KP: Adjusted Savings: Mineral 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. Mineral depletion is the ratio of the value of the stock of mineral resources to the remaining reserve lifetime. It covers tin, gold, lead, zinc, iron, copper, nickel, silver, bauxite, and phosphate.; ; 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 economic growth for was $0.00, a 0% increase from .

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

<li>North Korea economic growth for was <strong>$0.00</strong>, a <strong>0% increase</strong> from .</li>
<li>North Korea economic growth for was <strong>$0.00</strong>, a <strong>0% increase</strong> from .</li>
<li>North Korea economic growth for was <strong>$0.00</strong>, a <strong>0% increase</strong> from .</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 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.

North Korea trade to gdp ratio for was 0.00%, a 0% increase from .

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

<li>North Korea trade to gdp ratio for was <strong>0.00%</strong>, a <strong>0% increase</strong> from .</li>
<li>North Korea trade to gdp ratio for was <strong>0.00%</strong>, a <strong>0% increase</strong> from .</li>
<li>North Korea trade to gdp ratio for was <strong>0.00%</strong>, a <strong>0% increase</strong> from .</li>
</ul>Trade is the sum of exports and imports of goods and services measured as a share of gross domestic product.

Merchandise imports by the reporting economy, residual (% of total merchandise imports) in North Korea was reported at 0.00364 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. North Korea - Merchandise imports by the reporting economy, residual (% of total merchandise imports) - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.