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Gross domestic product (GDP) in 2023 likely expanded 3.1% in real terms, the biggest percentage growth since 2016, the Bank of Korea (BOK) said on Friday. ... North Korea's economy contracted by 0 ...
In 2024, North Korea's "economic freedom" score from the free-market oriented Heritage Foundation was 2.9, making its economy the world’s least free. The country’s economic freedom score is lower than the world and regional averages. North Korea’s economy is considered “repressed” according to the 2024 Index. [69] [70] [71]
The figures are from the International Monetary Fund (IMF) World Economic Outlook Database, unless otherwise specified. [1] This list is not to be confused with the list of countries by real GDP per capita growth, which is the percentage change of GDP per person taking into account the changing population of the country.
Economic reforms in North Korea has been encouraged by China. While visiting Pyongyang in June 2019, Chinese paramount leader Xi Jinping said that Kim Jong Un had “initiated a new strategic line of economic development and improving people’s livelihoods, raising socialist construction in the country to a new high tide.” [ 10 ]
With leader Kim Jong Un in attendance, North Korea opened a key political conference to discuss improving its struggling economy and reviewing defense strategies in the face of growing tensions ...
SEOUL, South Korea (AP) — A high-level North Korean economic delegation was on its way to Iran, the North's state media said Wednesday, for what would be the two countries’ first known talks ...
According to the Press Freedom Index, North Korea has the fourth least free press in the world. According to the Walk Free Foundation's Global Slavery Index, North Korea has the highest proportion of people in modern slavery. The Open Doors foundation's World Watch List lists the country as the worst persecutor of Christians in the world.
[19] [20] [21] By nominal GDP, the economy was worth ₩2.61 quadrillion (US$1.87 trillion). It has the 4th largest economy in Asia and the 12th largest in the world as of 2025. [3] South Korea is notable for its rapid economic development from an underdeveloped nation to a developed, high-income country in a few decades.