North Korea
2020 Product Exports | Imports: $142M | $556M, 184 of 226 | 186 of 226
2020 Per Capita Product Exports | Imports: $5.52 | $21.6, 218 of 219 | 218 of 219
Overview In 2020 North Korea was the number 184 economy in the world in terms of total exports and the number 186 in total imports.
Exports The top exports of North Korea are Electrical Insulators ($17.5M), Electric Batteries ($16.9M), Electricity ($11.8M), Ferroalloys ($10.4M), and Video Displays ($9.69M), exporting mostly to China ($44.1M), Burma ($24M), Poland ($20.6M), Nigeria ($6.57M), and Luxembourg ($5.09M).
Imports The top imports of North Korea are Soybean Oil ($70.1M), Wheat Flours ($37.6M), Raw Sugar ($34.5M), Processed Tobacco ($22M), and Packaged Medicaments ($21.9M), importing mostly from China ($491M), Russia ($41M), Democratic Republic of the Congo ($7.08M), India ($4.34M), and Switzerland ($2.68M).
Location North Korea borders China, South Korea, and Russia by land and Japan by sea.
Latest Trends
#permalink to sectionLatest Trade
#permalink to sectionThe following section uses the most recent trade data from partners of North Korea.
Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Latest Data
#permalink to sectionThe data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Historical Data
#permalink to sectionYearly Trade
#permalink to sectionTop Export (2020): Electrical Insulators, $17.5M
Top Destination (2020): China, $491M
In 2020, North Korea exported a total of $142M, making it the number 184 exporter in the world. During the last five reported years the exports of North Korea have changed by -$2.71B from $2.86B in 2015 to $142M in 2020.
The most recent exports are led by Electrical Insulators ($17.5M), Electric Batteries ($16.9M), Electricity ($11.8M), Ferroalloys ($10.4M), and Video Displays ($9.69M). The most common destination for the exports of North Korea are China ($44.1M), Burma ($24M), Poland ($20.6M), Nigeria ($6.57M), and Luxembourg ($5.09M).
Market Growth
#permalink to sectionEconomic Complexity
#permalink to sectionMost Specialized Products by RCA Index
#permalink to sectionNorth Korea has a high level of specialization in Watch Movements (1.05k), Electrical Insulators (864), Fake Hair (85.4), Wind Instruments (73), and Vegetable and Mineral Carvings (65.1). 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
#permalink to sectionThe highest complexity exports of North Korea according to the product complexity index (PCI) are Watch Movements (1.76), Silicone (1.74), Hydrazine or Hydroxylamine Derivatives (1.48), Plastic Coated Textile Fabric (1.39), and Wind Instruments (1.38). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
Export Opportunities by Relatedness
#permalink to sectionThe top export opportunities for North Korea according to the relatedness index, are Cast or Rolled Glass (0.11), Telephones (0.11), Broadcasting Accessories (0.1), Semiconductor Devices (0.1), and Printed Circuit Boards (0.1). 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.
Product Space
#permalink to sectionThe 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 a country currently specializes in.
Diversification Frontier
#permalink to sectionThe Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.
