North Korean economy
E479380
The North Korean economy is a highly centralized, state-controlled system characterized by chronic inefficiencies, international sanctions, and heavy reliance on limited foreign trade and aid.
Statements (71)
| Predicate | Object |
|---|---|
| instanceOf |
command economy
ⓘ
national economy ⓘ |
| agriculturalSystem |
collective farms
ⓘ
state farms ⓘ |
| chronicIssues |
infrastructure deficiencies
ⓘ
limited energy supply ⓘ low productivity ⓘ periodic food shortages ⓘ resource misallocation ⓘ |
| country | North Korea ⓘ |
| currency | North Korean won NERFINISHED ⓘ |
| dataTransparency | very low ⓘ |
| dominantOwnershipForm | state ownership of means of production ⓘ |
| economicSystem |
centrally planned economy
ⓘ
state-controlled economy ⓘ |
| energySources |
coal
ⓘ
hydropower ⓘ |
| financialSystem | state-controlled banking sector ⓘ |
| foreignAidDependence | periodic food aid ⓘ |
| foreignAidSources |
China
NERFINISHED
ⓘ
international humanitarian organizations ⓘ |
| foreignInvestmentLevel | very low ⓘ |
| GDPMeasurement | highly uncertain ⓘ |
| governanceFeatures |
central planning through multi-year plans
ⓘ
limited role of market prices ⓘ rationing system for basic goods ⓘ |
| humanDevelopmentIssues |
chronic malnutrition risk
ⓘ
widespread poverty ⓘ |
| informalSector | significant informal market activity ⓘ |
| internationalIntegration | highly isolated from global financial system ⓘ |
| KaesongIndustrialRegionStatus | intermittently closed due to political tensions ⓘ |
| keyIdeology |
Juche
NERFINISHED
ⓘ
Songun NERFINISHED ⓘ |
| keySectors |
agriculture
ⓘ
heavy industry ⓘ light manufacturing ⓘ military-industrial complex ⓘ mining ⓘ |
| laborExport | overseas North Korean workers ⓘ |
| laborExportUse | source of foreign currency ⓘ |
| macroeconomicStability | periodic currency reforms and disruptions ⓘ |
| mainExportCommodities |
arms and military-related goods (alleged)
ⓘ
minerals ⓘ textiles (historically significant) ⓘ |
| mainImportNeeds |
food
ⓘ
fuel ⓘ machinery and industrial inputs ⓘ |
| mainTradingPartners |
China
NERFINISHED
ⓘ
Russia NERFINISHED ⓘ limited other countries ⓘ |
| notableSpecialEconomicZones |
Kaesong Industrial Region
NERFINISHED
ⓘ
Rason Special Economic Zone NERFINISHED ⓘ |
| planningAuthority |
Cabinet of North Korea
NERFINISHED
ⓘ
Workers’ Party of Korea NERFINISHED ⓘ |
| policyPriority |
military spending
ⓘ
self-reliance ⓘ |
| privateSectorSize | very small formal private sector ⓘ |
| publicDistributionSystemStatus | unreliable and often insufficient ⓘ |
| reformCharacteristics |
selective market-oriented experiments
ⓘ
special economic zones with limited openness ⓘ |
| sanctionsImpact |
limited access to advanced technology
ⓘ
reduced export revenues ⓘ restricted access to international finance ⓘ |
| sanctionsImposedBy |
European Union
NERFINISHED
ⓘ
United Nations NERFINISHED ⓘ United States NERFINISHED ⓘ |
| sanctionsReasons |
ballistic missile program
ⓘ
nuclear weapons program ⓘ |
| subjectTo | extensive international sanctions ⓘ |
| tradeStructure |
limited legal external trade
ⓘ
smuggling and informal cross-border trade ⓘ |
Referenced by (2)
Full triples — surface form annotated when it differs from this entity's canonical label.