International Trade in North Korea

International Trade in North Korea

Agriculture accounts for approximately one quarter of GDP (according to the CIA's sources), industry accounts for nearly 44% of the North Korean wealth, thanks to its large mining reserve, while the service sector contributes one third of the national income.  According to the data... Read more

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Market Analyses About North Korea (2)

Import and Export Services in North Korea (10)

  • High Beam Global

    High Beam Global

    Market Research, North Korea

    HBG is a full service Market Research agency providing research and support services to companies ranging from boutique research...
  • Finstek Ltd.

    Finstek Ltd.

    Foreign Exchange, North Korea

    One of the Lowest Effective Costs in the Industry!   You will be very pleased once you ask us for Physical FX Delivery...

Business Tips About North Korea (3)

Agents and Distributors in North Korea (1)

  • AW SUNNY STEEL

    AW SUNNY STEEL

    Metal Sales and Distribution, North Korea

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Overview About International Trade in North Korea

Economic Overview

Agriculture accounts for approximately one quarter of GDP (according to the CIA's sources), industry accounts for nearly 44% of the North Korean wealth, thanks to its large mining reserve, while the service sector contributes one third of the national income. 

According to the data published by the Central Bank of South Korea, the economy of the Democratic People's Republic of Korea grew by 3.7% in 2008, then decreased by 0.9% in 2009 and should further shrink in 2010 due to the monetary reform introduced in November 2009, as well as the worsening relations with South Korea. In the absence of official data published by the country, the estimations concerning North Korea's economy are considered a reliable source.

The economy of North Korea remains one of the world's last centrally planned system. Its government has started to "liberalize" agriculture by allowing "private farmers" to sell a wider range of products. In addition, it has also authorized the sale of certain products at prices close to those of the market. The role of market economy is nevertheless very limited. Even if there has been some attempts at decentralization, the fundamental option for a rigid

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