Flag North Korea

Econ Complexity (2018): -0.27, Rank 80 of 137

Product Exports (2018): $291M, Rank 167 of 222

Exports Per Capita (2018): $11.4, Rank N/A of N/A

Product Imports (2018): $2.32B, Rank 154 of 221

Imports Per Capita (2018): $90.7, Rank N/A of N/A

Overview: This page contains the latest international trade data for North Korea. In 2018 North Korea was the number 167 in total exports, the number 154 in total imports, and the number 80 most complex economy according to the Economic Complexity Index (ECI). In 2018, North Korea exported $291M and imported $2.32B, resulting in a negative trade balance of -$2.03B. In 2018, North Korea's exports per capita were $11.4 and its imports per capita were $90.7.

Trade: The top exports of North Korea are Watch Movements ($31.1M), Ferroalloys ($27.7M), Fake Hair ($22.4M), Rubberworking Machinery ($19.1M), and Tungsten Ore ($18.5M). The top imports of North Korea are Soybean Oil ($140M), Synthetic Filament Yarn Woven Fabric ($126M), Nitrogenous Fertilizers ($80.7M), Wheat Flours ($65.5M), and Light Rubberized Knitted Fabric ($57.9M).

Destinations: North Korea exports mostly to China ($182M), Zambia ($20M), Mozambique ($7.81M), Saudi Arabia ($7.21M), and Pakistan ($7.05M), and imports mostly from China ($2.22B), Russia ($32.1M), India ($31.3M), Brazil ($7.29M), and Switzerland ($3.3M).

Location: North Korea borders China, South Korea, and Russia by land and Japan by sea.

Yearly Exports

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Top Export (2018): Watch Movements, $31.1M

Top Destination (2018): China, $182M

In 2018 North Korea exported a total of $291M, making it the number 167 exporter in the world. During the last five reported years the exports of North Korea have changed by -$3.03B from $3.32B in 2013 to $291M in 2018.

The most recent exports are led by Watch Movements ($31.1M), Ferroalloys ($27.7M), Fake Hair ($22.4M), Rubberworking Machinery ($19.1M), and Tungsten Ore ($18.5M). The most common destination for the exports of North Korea are China ($182M), Zambia ($20M), Mozambique ($7.81M), Saudi Arabia ($7.21M), and Pakistan ($7.05M).

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Yearly Imports

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Top Import (2018): Soybean Oil, $140M

Top Origin (2018): China, $2.22B

In 2018 North Korea imported $2.32B, making it the number 154 trade destination in the world. During the last five reported years the imports of North Korea changed by -$2.04B from $4.35B in 2013 to $2.32B in 2018.

The most recent imports of North Korea are led by Soybean Oil ($140M), Synthetic Filament Yarn Woven Fabric ($126M), Nitrogenous Fertilizers ($80.7M), Wheat Flours ($65.5M), and Light Rubberized Knitted Fabric ($57.9M). The most common import partners for North Korea are China ($2.22B), Russia ($32.1M), India ($31.3M), Brazil ($7.29M), and Switzerland ($3.3M).

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Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

Trade Forecasts

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This section shows forecasts for total product exports and imports for North Korea. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Economic Complexity

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Economic Complexity Ranking

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During the last 14 years North Korea's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨31st to the 80th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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Most Specialized Products by RCA Index

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North Korea has a high level of specialization in Watch Movements (1.64k), Graphite (517), Fake Hair (431), Iron Ingots (266), and Instructional Models (198). Specialization is measured using RCA, an index that takes the ratio between North Korea observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of North Korea according to the product complexity index (PCI) are Lathes for removing metal (1.9), Equipment using X-rays, alpha, beta, gamma rays (1.8), Polyamides in primary forms (1.71), Microscopes except optical, diffraction apparatus (1.69), and Fork-lift trucks, other trucks with lifting equipment (1.59). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for North Korea according to the relatedness index, are Coconuts, Brazil Nuts, and Cashews (0.14), Rubber (0.13), Broadcasting Accessories (0.13), Crude Petroleum (0.13), and Coconut and Other Vegetable Fibers (0.13). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that North Korea is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.