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There are some strange statistics and fun facts that lend perspective to the Hermit Kingdom.
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]
North Korea is a mystery – here’s what we do know. For premium support please call: 800-290-4726 more ways to reach us
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 ]
[54] [55] North Korea received economic aid and technical assistance from the Soviet Union and China, but it did not join Comecon, the communist common market. [ 56 ] [ 57 ] In the 1990s, it had one of the world's lowest rates for dependence on petroleum , using hydroelectric power and coal instead of imported oil. [ 58 ]
Access to North Korea by foreign news media is severely restricted by the North Korean government. There are very few full-time correspondents in the country. In the absence of on-the-spot reportage, a key source of information about North Korea is the testimony of defectors , but the defectors are not necessarily reliable for several reasons.
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North Korea's economy contracted by 0.2% in 2022, 0.1% in 2021 and 4.5% in 2020 amid COVID restrictions and U.N. sanctions. During the pandemic, humanitarian groups raised concerns about food ...