North Korea popularly known as the Democratic People’s Republic of Korea(DPRK). The economy of this country is centrally planned system, where the role of market allocation scheme is limited. The currency of this country is North Korean won. The Supreme leader of this country is Kim Jong-un.
Through this list we will inform you about economy of this country. Let’s have a detailed look on the list of interesting facts about North Korea economy.
Interesting Facts About North Korea’s Economy List
1. Economy Growth
The economy of North Korea is growing by 3.9% in year 2016. The Supreme leader Kim Jong Un establishing more channels for interactions with the outside world that means the country import and export more goods and services with other countries. Now the economy of North Korea is in good condition.
2. Import Export
The country import cocking coal, petroleum, textiles, grains and machinery and equipment form other countries. The main import partners of North Korea are China, India, Russia, Thailand and Philippines. The estimated import cost per year is 3.752 billion USD dollar.
The North korea exports manufacturing goods, minerals, textiles, agricultural products, fishery products and metallurgical products to other countries. The main export partner countries of North Korea are Pakistan, China, India, Burkina Faso. The estimated earning from Exports is 2.985 Billion USD dollar per year.
4. GDP Statistics
The Gross Domestic Product (GDP) of North Korea growing 3.9% in 2016. The total GDP of the country is 28.5 billion USD dollar and GDP per capita is 1300 USD dollar. The country increase it gross domestic product every year.
5. Literacy Rate
Literacy Rate of North Korea is 100%. The children above the age of 15 years can read and write easily. The formal education has played a central role in social and cultural development of the country. In this country there is no state-supported system for primary education.
6. Trade Partners
The estimated exports of North Korea is 67.2% and imports 61.6%. China, India, Russia, Thailand and Philippines are the main trading partner of North Korea. China supplies various good to this country such as food stuffs, oil, buses, toilet seats and much more.
7. Main Source of Income
North Korea’s main source of income are machin ce buildings, industries, electrical power, metallurgy, mining, food processing, textiles, chemicals and tourism. All business activities of North Korea involved with China. The half GDP of the country is accounted by industries.
Main Source of Income: