Flag North Korea

2019
Economic
Complexity
: 0.32, Rank 55 of 157

2019
Product
Exports | Imports
: $308M | $2.7B, 172 of 225 |  155 of 225

2019
Per Capita Product
Exports | Imports
: $12 | $105, 218 of 219 |  210 of 219

Overview: In 2019 North Korea was the number 0 economy in the world in terms of GDP (current US$), the number 172 in total exports, the number 155 in total imports, the number 0 economy in terms of GDP per capita (current US$) and the number 55 most complex economy according to the Economic Complexity Index (ECI)

Exports: The top exports of North Korea are Watch Movements ($49.2M), Fake Hair ($31.1M), Ferroalloys ($30.1M), Instructional Models ($16.4M), and Tungsten Ore ($12.6M), exporting mostly to China ($207M), Suriname ($19.8M), Costa Rica ($7.47M), Ghana ($7.35M), and Fiji ($7.13M).

Imports: The top imports of North Korea are Synthetic Filament Yarn Woven Fabric ($171M), Soybean Oil ($127M), Rice ($77.6M), Wheat Flours ($76.6M), and Other Clocks and Watches ($73.8M), importing mostly from China ($2.59B), Russia ($44.9M), Brazil ($19.9M), India ($10.4M), and Honduras ($7.73M).

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

Yearly Exports

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Value
Depth

Top Export (2019): Watch Movements, $49.2M

Top Destination (2019): China, $207M

In 2019, North Korea exported a total of $308M, making it the number 172 exporter in the world. During the last five reported years the exports of North Korea have changed by -$2.86B from $3.17B in 2014 to $308M in 2019.

The most recent exports are led by Watch Movements ($49.2M), Fake Hair ($31.1M), Ferroalloys ($30.1M), Instructional Models ($16.4M), and Tungsten Ore ($12.6M). The most common destination for the exports of North Korea are China ($207M), Suriname ($19.8M), Costa Rica ($7.47M), Ghana ($7.35M), and Fiji ($7.13M).

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Yearly Imports

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Depth

Top Import (2019): Synthetic Filament Yarn Woven Fabric, $171M

Top Origin (2019): China, $2.59B

In 2019 North Korea imported $2.7B, making it the number 155 trade destination in the world. During the last five reported years the imports of North Korea changed by -$1.32B from $4.02B in 2014 to $2.7B in 2019.

The most recent imports of North Korea are led by Synthetic Filament Yarn Woven Fabric ($171M), Soybean Oil ($127M), Rice ($77.6M), Wheat Flours ($76.6M), and Other Clocks and Watches ($73.8M). The most common import partners for North Korea are China ($2.59B), Russia ($44.9M), Brazil ($19.9M), India ($10.4M), and Honduras ($7.73M).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

Economic Complexity

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Economic Complexity Ranking

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During the last 20 years North Korea's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨38th to the 55th⁩ 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 (2.43k), Fake Hair (588), Instructional Models (293), Iron Ingots (240), and Wind Instruments (112). 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 Machining centre, single/multistation transfer machine (2.42), Chemical element/compound wafers doped for electronics (2.18), Machine-tools for non-mechanical removal of material (1.81), Fork-lift trucks, other trucks with lifting equipment (1.67), and Polyamides in primary forms (1.56). 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 Tin Ores (0.11), Broadcasting Accessories (0.11), Antimony (0.11), Bismuth (0.11), and Rubber (0.11). 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.