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2022
Economic Complexity
Research -2.05Rank 140 of 140
2023
Product
Exports | Imports $397M | $2.07B172 of 226 |  163 of 226
2023
Per Capita Product
Exports | Imports $15 | $78.5183 of 220 |  217 of 220

About

Overview In 2023 North Korea was the number 172 economy in the world in terms of total exports and the number 163 in total imports.

Exports The top exports of North Korea are Fake Hair ($167M), Ferroalloys ($33.3M), Tungsten Ore ($25.9M), Electricity ($22.3M), and Cars ($17.8M), exporting mostly to China ($292M), Poland ($10.3M), Senegal ($10.3M), Angola ($10.2M), and Austria ($10.1M).

Imports The top imports of North Korea are Processed Hair ($160M), Soybean Oil ($90M), Mixed Mineral or Chemical Fertilizers ($80.7M), Synthetic Filament Yarn Woven Fabric ($80.5M), and Rice ($76.8M), importing mostly from China ($2B), Togo ($24.7M), Peru ($18.5M), Gabon ($17.7M), and India ($1.88M).

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

Latest Trends

Latest Trade

Flow
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Y-AXIS SCALE

The 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.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The 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.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2023)Fake Hair$167M
Top Destination (2023)China$292M

In 2023, North Korea exported a total of $397M, making it the number 172 exporter in the world. During the last five reported years the exports of North Korea have changed by $50.1M from $346M in 2018 to $397M in 2023.

The most recent exports are led by Fake Hair ($167M), Ferroalloys ($33.3M), Tungsten Ore ($25.9M), Electricity ($22.3M), and Cars ($17.8M). The most common destination for the exports of North Korea are China ($292M), Poland ($10.3M), Senegal ($10.3M), Angola ($10.2M), and Austria ($10.1M).

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Exports (2023)
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Destinations (2023)
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Market Growth

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Growth
Fastest Growing Export Markets (2022 - 2023)
China$158M (+ 118%)
Angola$6.65M (+ 188%)
Austria$6.57M (+ 184%)
Fastest Growing Import Markets (2022 - 2023)
China$1.11B (+ 124%)
Togo$24.7M (+ 2.62M%)
Peru$18.5M (+ 845k%)

Total Export Growth by Market (2022 - 2023)

Potential Exports

Potential Exports

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Economic Complexity

Overview

Economic Complexity (Research)-2.05Rank 140 of 140

Most Specialized Products by RCA Index

North Korea has a high level of specialization in Fake Hair (2.65k), Watch Movements (270), Iron Ingots (145), Carbides (132), and Wind Instruments (110). 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

The highest complexity exports of North Korea according to the product complexity index (PCI) are Watch movements; complete and assembled (1.68), Musical instruments; wind (e.g. keyboard pipe organs, accordions, clarinets, trumpets, bagpipes), other... (1.65), Chain and parts thereof, of iron or steel (1.64), Electrical machines and apparatus; having individual functions, not specified or included elsewhere... (1.22), and Acrylic polymers in primary forms (1.18). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for North Korea according to the relatedness index, were Vacuum Flask (0.085), Other Edible Animal Products (0.085), Cyclic Hydrocarbons (0.083), Crude Petroleum (0.082), and Tug Boats (0.081). 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

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 a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of North Korea. These are products that tend to be co-exported with the products that North Korea exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2023)

Diversification Frontier

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Depth

The 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.

Diversification Frontier

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