How China keeps North Korea's economy alive
Key points
- Pyongyang relies on China for 95% of its legitimate trade;
- hacking, arms deals and remittances also help it stay afloat.
- North Korea runs one of the most bizarre economies on the planet.
- Despite being one of only a handful of nations with nuclear weapons, its 2024 gross domestic product (GDP) was a paltry $26.6 billion (€22.9 billion).
- This is about 70 times smaller than South Korea's $1.86 trillion economy and about a fifth of the annual revenue of the world's top-traded company, Nvidia.
Quick Summary
Pyongyang relies on China for 95% of its legitimate trade; hacking, arms deals and remittances also help it stay afloat. North Korea runs one of
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Key Takeaways
- Pyongyang relies on China for 95% of its legitimate trade; hacking, arms deals and remittances also help it stay afloat.
- North Korea runs one of the most bizarre economies on the planet.
- Despite being one of only a handful of nations with nuclear weapons, its 2024 gross domestic product (GDP) was a paltry $26.6 billion (€22.9 billion).
- This is about 70 times smaller than South Korea's $1.86 trillion economy and about a fifth of the annual revenue of the world's top-traded company, Nvidia.
- Thanks to a centrally planned economy that prioritizes domestic production, North Korea is nowhere near as reliant on trade as your average free-market economy, partly due to international sanctions, introduced by the United Nations in 2017 over its nuclear weapons and ballistic missiles program.
📌 Source: DW News
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