Economy - overview:
North Korea, one of the world's most centrally planned and isolated
economies, faces desperate economic conditions. Industrial capital
stock is nearly beyond repair as a result of years of
underinvestment and spare parts shortages. Industrial and power
output have declined in parallel. The nation has suffered its tenth
year of food shortages because of a lack of arable land; collective
farming; weather-related problems, including major drought in 2000;
and chronic shortages of fertilizer and fuel. Massive international
food aid deliveries have allowed the regime to escape mass
starvation since 1995-96, but the population remains the victim of
prolonged malnutrition and deteriorating living conditions.
Large-scale military spending eats up resources needed for
investment and civilian consumption. Recently, the regime has placed
emphasis on earning hard currency, developing information
technology, addressing power shortages, and attracting foreign aid,
but in no way at the expense of relinquishing central control over
key national assets or undergoing widespread market-oriented
reforms. In 2003, heightened political tensions with key donor
countries and general donor fatigue have held down the flow of
desperately needed food aid and have threatened fuel aid as well.
GDP:
purchasing power parity - $22.26 billion (2002 est.)
GDP - real growth rate:
1% (2002 est.)
GDP - per capita:
purchasing power parity - $1,000 (2002 est.)
GDP - composition by sector:
agriculture: 30.4%
industry: 32.3%
services: 37.3% (2000 est.)
Population below poverty line:
NA%
Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices):
NA%
Labor force:
9.6 million
Labor force - by occupation:
agricultural 36%, nonagricultural 64%