North Korea's Economic Outlook: GDP and Per Capita Analysis
GDP Overview
North Korea's GDP per capita has been estimated to be around -2024 USD in 2024. This figure reflects the challenges faced by the country's economy, which has been impacted by sanctions, isolation, and a lack of economic reforms.
GDP Forecast
According to Trading Economics, North Korea's GDP is expected to reach 2124 USD Billion by the end of 2023. However, this forecast is subject to change due to various factors such as the country's political situation, economic policies, and external developments.
Military Spending Impact
North Korea's military spending has been a major factor in its economic performance. Between 2010 and 2020, military expenditures accounted for an estimated 20-30% of the country's GDP annually. This high level of military spending has diverted resources from other sectors of the economy.
Other key metrics related to North Korea's economy include:
- Life expectancy: 73 years
- Birth rate: 18.2 births per 1,000 people
- Population: 25.78 million (2023)
These metrics provide a deeper understanding of the social and economic conditions in North Korea. However, it's important to note that official statistics and data from the country are often limited and subject to inconsistencies.
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