Archive for the ‘GDP statistics’ Category

DPRK reported output in 2016

Saturday, April 30th, 2016

“Industrial establishments overfulfil production targets as the 70-day campaign comes to an end” (Pyongyang Times: 2016-4-30)

The Hwanghae Iron and Steel Complex, one of the model units in the current 70-day campaign of loyalty, hit its steel and pig iron production targets 101 percent respectively as of April 20.

Smelters of the UHP electric arc furnace have so far reset the peak production record of molten iron per charge several times. They gave full play to the spirit of collectivism of helping and leading one another forward, while introducing advanced working methods to shorten the time of heating and increase the output of molten iron per charge.

The workers of the continuous ingot steel workshop carried out their daily production plan at 102 percent on average, 110 percent at maximum.

Those of the Sunchon Cement Complex drastically raised cement production on the first day of the campaign to renew the daily peak production record for the first time in 20 years. Without resting on their laurels, they worked hard and finally achieved their campaign goals.

The Ministry of Coal Industry carried out its highly-set campaign target ahead of schedule as of April 20 with the coal production plan 101 percent and major, preliminary and boring tunnelling 101.5, 105.5 and 106. 6 percent respectively.

Coal-mining machine factories across the country manufactured and repaired thousands of coal wagons and made over 1 800 wheels more than planned under the uplifted self-development-first banner. A great deal of achievements were also made in the production of coal-mining equipment and their parts.

The Chongchongang Thermal Power Station increased power generation to exceed its campaign plan by 2.2 percent as of April 25. The workers of the station repaired equipment and increased the number of boilers in operation to ensure uninterrupted power generation.

The February 8 Vinalon Complex gave priority to the supply of raw materials and fuel, staggered production and organized management of equipment and technology scrupulously to boost production, thereby surpassing the vinalon production goal by 50 percent.
Workers of the Wonsan Salt Works increased production 2.2 times over the same period of last year by fully storing seawater in reservoirs while introducing an advanced seawater freezing method which suits the conditions on the east coast throughout the winter.

Thousands of hectares of farmland have been rezoned in Kaesong and Jangphung County, with over 19 300 patches and paddies and more than 1 260-kilometre-long ridges between paddy and dry fields removed and hundreds of hectares of land brought under cultivation. This paved the way for comprehensive mechanization of farming on all fields and consequent increased cereals production.

Officials and workers of the Sinuiju Textile Mill have produced three times more cotton yarn and fabrics than before the campaign. Amidst the dynamic collective emulation drive between workteams, shifts and workshops, many workers and workteams have carried out the first half year and annual production plans as well as campaign plans and the number is growing.

More than 200 factories and enterprises in Pyongyang have hit their 70-day campaign goals and first half year plans ahead of schedule.

“Nation’s Industrial Production Rises 1.2 Times” (Pyongyang Times: 2016-3-16)

Industrial output grows rapidly thanks to the heightened revolutionary enthusiasm and creative spirit of selfreliance and self development of service personnel and people, who have risen up in the day and night march true to the call of the Central Committee of the Workers’ Party of Korea for launching a 70day campaign of loyalty for the Seventh Party Congress, according to a report of the Korean Central News Agency on March 12.

The nation’s industrial production increased 1.2 times in the first ten days of March over the same period of last year.

The Pukchang and Pyongyang thermal power complexes and other thermal and hydropower stations across the country pressed on with power generation as scheduled, far exceeding the tenday targets set by the Party.

Coal mines in the western areas including Tokchon and Sunchon cut thousands of tons of coal more every day.

The Ministry of Coal Industry overfulfilled the tenday production plan by 13 per cent and the results of major and preliminary tunnelling far surpassed the plan, securing hundreds of reserve coalcutting faces.

The workers of the Hwanghae Iron and Steel Complex doubled the Juche iron output over the same period of last year, and all metallurgical bases conducted a dynamic drive to increase iron and steel production.

Amidst the heated emulation and experiencesharing in iron ore mines in Musan, Unnyul, Thaethan and other areas, the Jaeryong Mine increased daily production over 1.5 times on average, thus taking the lead in the supply of concentrated iron ores to metallurgical factories.

The Ministry of Railways, all the railway bureaus and their branches commanded railway transport scrupulously and gave top priority to concentrated transport without accident to overfulfil the plan for main freight.

The increased production in the vanguard economic sectors injected a new lease of life into the overall major industrial sectors such as machinebuilding, chemical, building materials and mining industries and forestry.

The Taean Heavy Machine Complex completed the production of generating equipment till March 9 in a matter of two months and sent them to the construction site of Paektusan Hero Youth Power Station No. 3 on March 10.

The workers of the large machinebuilding bases in Ragwon and Ryongsong and the Sungni Motor Complex speeded up the processing of products and increased the production of spare parts including various kinds of gears and speed reducers, a great contribution to a 1.5 times rise in the production of thermal power generating equipment of the Ministry of Machine Building Industry.

The workers of the Hungnam Fertilizer Complex hit the Juche fertilizer production target for the first ten days of March.

Cement production is also growing in the Sangwon Cement Complex whose workers and technicians have turned out to break the production record again this year after last year.

Many forestry and prop production stations carried out their first quarterly and yearly timber production quotas.

Farming preparations were brisk on the agricultural front, resulting in a 1.7 and 2.8 times growth in the securing of hukposan and microbial fertilizers and an over 1.3 times increase in the acreage of field carpeted with humus soil.

Officials and fishermen carried out the plans of the Ministry of Fisheries for ten days 121 per cent.

Daily amount of catch increased rapidly and fishing results saw a leap in the fishery stations on the east and west coasts.

Hundreds of workers hit their targets for the first quarter and half of the year in the field of textile industry. Kumkhop, Pomhyanggi and Maebongsan and other popular brands saw a sharp rise in sales.

Many major construction projects progressed apace including those for Paektusan Hero Youth Power Station No. 3, reconstruction of Kim Il Sung Stadium, secondstage reconstruction of the Central Zoo, capacity builup of the Central Tree Nursery of the Ministry of Land and Environment Protection, the central class education hall and Wonsan Army People Power Station.

Many young people volunteered to work in labour consuming fields and hundreds of workers carried out their yearly plans.

“KCNA Reports about Signal Successes in Various Fields in Early March” (KCNA: 2016-3-13)

The Korean Central News Agency Saturday said in a report that the industrial production in the first ten days of March when the 70-day campaign of loyalty is under way grew 1.2 times as compared with the corresponding period of last year.

According to the report, production in the vanguard and basic industrial fields of the national economy including electric power, coal, metal and railway transport sharply rose.

Thermal power plants and hydro-power stations across the country have over-fulfilled their daily quotas.

The production plan of the Ministry of Coal Industry for ten days in March was over-fulfilled 13 percent.

The workers of the Chollima Steel Complex boosted the production of rolled steel 32 percent.

A dynamic drive for increased iron and steel production is under way in metallurgical bases across the country including the Hwanghae Iron and Steel Complex.

The Jaeryong Mine increased daily quotas over 1.5 times on an average, thus taking the lead among the iron ore mines in Musan, Unryul, Thaethan and other areas.

The Ministry of Railways, all the railway bureaus and sub-bureaus over-fulfilled main freight haulage plan.

The increased production in the vanguard sectors of the national economy injected vitality into major industrial fields such as machine-building, chemical, building material and mining industries and forestry.

The custom-built equipment for different fields of the national economy were turned out and the production of nonferrous metal ore, chemical fertilizers, cement, sheet glass, timber, etc. radically increased.

The Taean Heavy Machine Complex completed the production of generating equipment in a matter of two months and sent them to the construction site of the Paektusan Hero Youth Power Station No. 3 on Mar. 10.

The Ministry of Machine Industry increased the production of thermal power generating equipment 1.5 times.

Mines under the Phosphate Fertilizer Industry Management Bureau honored its plan at 150 percent.

The workers of the Hungnam Fertilizer Complex hit the goal for the production of Juche fertilizers.

The workers and technicians of the Sangwon Cement Complex are working hard to surpass the peak production year again this year.

The Sunchon Cement Complex, the Chonnaeri Cement Factory and the Sunghori Cement Factory boosted the production over 10 percent.

Many forestry stations and pit prop production stations also honored their first quarterly and yearly timber production quotas.

The production of homemade fertilizers and their transport, tractor overhauling and maintenance and other farming preparations are nearing completion thanks to the devoted drive of agricultural workers across the country.

The fishery officials and workers over-fulfilled their production plan of the Ministry of Fisheries for ten days 21 percent.

The field of light industry over-fulfilled the production plans for textiles, knitwear and shoes.

In the field of textile industry hundreds of workers honored the half yearly and first quarterly quotas and famous products and goods favored by the people are on the increase.

Many major construction projects are making rapid progress.

A lot of young people volunteer to work in the hard and labor-consuming fields.

Across the country hundreds of workers honored their yearly plans, at least 3,600 people carried out the first half yearly plans and more than 15,400 people hit the first quarterly goal.

A lot of members of the women’s union are giving helping hands to builders in power stations, workers of coal and ore mines. War veterans, honorary party members and pensioners have turned out in the 70-day campaign in South Phyongan Province and other parts of the country to fully demonstrate the noble traits of our society advancing with the might of single-minded unity.

“Rapid Economic Growth Witnessed in DPRK” (KCNA: 2016-4-8)

The DPRK has made a rapid progress in major construction or reconstruction projects and industrial production in recent 40 days after the start of the 70-day campaign.

In particular, Pyongyang, its capital city, showed an increase of twice in the tempo of construction or reconstruction projects and 1.6 times in industrial production.

The Aeguk Vegetable Processing Factory and the Mangyongdae Children’s Camp were rebuilt on a modern basis and the second-stage renovation of the Central Zoo is progressing apace at the final stage.

Besides, 80 percent of total work has been carried out in scores of construction and reconstruction projects, including the Ryuwon Shoes Factory, Pyongyang Cosmetics Factory and the Pyongyang Cornstarch Factory.

Electricity and coal outputs went up at thermal-power and hydro-power stations and coal mines.

The Pyongyang Steel Works and the Pyongyang Cast Iron Pipe Factory fulfilled their production plans 120 percent on an average, 150 percent to the maximum.

An increasing number of units in light industry and foodstuff industry have finished their yearly and half-yearly production quotas.

Such successes are reported from railway, agricultural and other industrial sectors.

Share

North Korea’s “Epic Economic Fail” in International Perspective

Wednesday, November 11th, 2015

A new report by Nicholas Eberstadt has been published by the Asan Institute for Policy Studies. According to the summary:

This report brings to the table new research on the dimensions of economic failure in modern North Korea, offers a quantitative view of how nations develop in our modern world, and where North Korea’s awful slide downward fits within this global tableau; offers admittedly approximate long term estimates of overall net resource transfers to the DPRK, including estimates of net transfers from the major state benefactors; and some indications about the interplay between concessionary resource transfers from abroad and the DPRK’s domestic economic performance. It concludes with some observations about the implications of these findings

You can download a PDF of the report here.

Share

Bank of Korea on the DPRK’s economic performance in 2014

Friday, July 17th, 2015

The Bank of Korea has published its annual assessment of the North Korean economy. The report on economic performance in 2014 can be downloaded here (PDF).  Previous years’ reports can be downloaded from my economic statistics page.

The report claims that the DPRK’s GDP increased by 1% in 2014. Nominal GNI was valued at 34.2 trillion KRW, (2.3% of South Korea). GNI per capita stood at 1.388 million KRW, (4.7% of South Korea).

Growth a number of industries was positive, but had fallen from 2013 rates. Among these industries were mining, as wells as agriculture, forestry, and fishing (combined) and heavy industry and chemical industry (combined).  Growth in light industry was higher than in 2013 as was electricity, gas and water (combined) and services. The biggest annual turnaround came in the construction industry, which saw a growth rate of 1.4% following a -1% fall in 2013.

The volume of North Korea’s external trade (sum of exports and imports of goods, excluding inter-Korean trade) amounted to $7.61 billion dollars in 2014 (up $0.27b from 2013). Exports totaled $3.16 billion (down 1.7% from 2013). Imports totaled $4.45 billion (up 7.8% from 2013).

Here is coverage in Yonhap:

North Korea’s economic growth is estimated to have slowed last year from a year earlier as its staple primary industries posted tepid performances, data showed Friday.

The North’s economy is projected to have expanded 1 percent in 2014, decelerating from the 1.1 percent on-year growth in the previous year, according to the data compiled by South Korea’s central bank, the Bank of Korea (BOK).

It has posted economic expansions for four years in a row since it contracted 0.9 percent and 0.5 percent in 2009 and 2010, respectively.

The BOK explained that the North’s construction sector lent support to the overall growth, bouncing back to a 1.4 percent on-year growth last year from a 1 percent fall the previous year.

Pyongyang’s agricultural and fishery industry, which accounts for 21.8 percent of its total output, expanded 1.2 percent last year, slowing from 1.9 percent growth in 2013.

Growth in its mining and manufacturing sector, which accounts for 34.4 percent of overall output, gained 1.1 percent, down from 1.5 percent a year earlier.

The data, meanwhile, showed that North Korea’s nominal gross national income (GNI) came in at 34.2 trillion won (US$29.8 billion) last year, which is roughly 2.3 percent of South Korea’s 2014 GNI of 1,496.6 trillion won.

Since 1991, the BOK has been releasing the growth estimate of the North based on data provided by Seoul’s intelligence agency and other institutions specializing in North Korean studies.

Here is coverage in Bloomberg (with carts!).

http://www.bloomberg.com/news/articles/2015-07-17/north-korea-grew-1-in-2014-is-south-s-best-guess

Share

Economic gap between Koreas grew in 2013

Tuesday, December 16th, 2014

According to Yonhap:

The economic gap between South and North Korea widened in 2013 with the difference in their trade volumes remaining far apart, data showed Tuesday.

According to the data from Statistics Korea, North Korea’s nominal gross national income (GNI) came to 33.84 trillion won (US$30.87 billion) in 2013 with that of the South coming to 1.44 quadrillion won, or 42.6 times larger.

In 2012, South Korea’s GNI was 38.2 times larger than the North’s.

On a per-capita basis, South Korea’s GNI came to 28.7 million won, 20.8 times that of North Korea.

As of the end of 2013, South Korea had a total population of 50.22 million compared to the North’s 24.54 million, according to the data.

South Korea also continued to greatly outperform the communist North in trade.

In 2013, South Korea’s overall trade volume came to about $1.07 trillion, 146 times larger than North Korea’s $7.3 billion.

South Korea’s overall rice production came to 4.23 million tons, while the North produced about 2.1 million tons.

The two Koreas also showed significant gaps in social infrastructure.

South Korea’s road network totaled 106,414 kilometers, compared with the North’s 26,114 kilometers.

The statistics office has been publishing general information on the North since 1995 as a way of providing an insight to the economic and social conditions of the reclusive country.

Additional reporting here.

Read the full story here:
Economic gap between two Koreas widens in 2013: data
Yonhap
2014-12-16

Share

Bank of Korea on DPRK economy in 2013

Friday, June 27th, 2014

The South Korean central bank, the Bank of Korea, publishes an annual summary of the DPRK’s economic performance the previous year. The 2013 report is out. You can also download it on my DPRK Economic Statistics Page.

Here is a summary in Yonhap:

The Bank of Korea (BOK) estimated that the country’s economy expanded 1.1 percent in 2013, slowing from a 1.3 percent on-year expansion in the previous year.

In 2012, the North Korean economy was estimated to have grown at the fastest pace in four years, after contracting 0.9 percent and 0.5 percent in 2009 and 2010, respectively.

A BOK official explained that while the North’s construction sector shrank last year, its agricultural output improved on favorable weather conditions.

An expansion in production of coal and iron ore also lent support to growth, the official added.

Pyongyang’s construction industry contracted 1 percent on-year, compared with a 1.6 percent decline in 2012, as an increase in the number of residential buildings failed to offset falling demand for road construction works.

Its agricultural and fishery industry, which accounts for 22.4 percent of its total output, expanded 1.9 percent last year, slowing from a 3.9 percent growth in 2012.

Growth in its mining and manufacturing industries, which account for 35.7 percent of overall output, gained traction to reach 1.5 percent, up from 1.3 percent a year earlier.

The data, meanwhile, showed that North Korea’s nominal gross national income (GNI) came in at 33.8 trillion won (US$33.3 billion) last year, which is roughly 2.3 percent of South Korea’s 2013 GNI of 1,441.1 trillion won.

The Wall Street Journal’s Korea Real Time notes the following:

“North Korea has neither the capability to collect and analyze all the relevant data necessary to measure its own GDP growth nor the willingness to disclose them to the outside world,” says Mr. Cho.

Marcus Noland published a graph of korean growth rates from 1990-2013 and offered comments on the BOK’s methodology:

Noland-Koreas-GDP-growth-2013

And Noland’s comments:

According to the report, BOK constructs its national income account estimates “using basic data on North Korea’s economic activities supplied by relevant institutions…GDP at current prices is estimated with the use of South Korean prices and value-added ratios.”

What this means in non-economist speak is that someone (the NIS?) gathers data using some sources and methods which presumably put an emphasis on physical indicators that are easily countable. So that, as a practical matter, the South Korean authorities may have a better grasp of output in some sectors (like coal, where it’s easy to count railcars leaving a limited number of mines) and less on say services such as education where both the quantity and quality are more difficult to observe. Not surprisingly, the agricultural and industrial sectors of the economy show more output variability than does services. Whether this reflects reality or just problems counting physical indicators for services is unknown.

Then, having obtained these physical measures of output, we need prices and value-added weights to aggregate them into a single measure of the value of output. According to the BOK report they use South Korean prices and value-added weights. There are two problems here, though one problem may be diminishing over time. The first problem is that the relative price structures of the North and South Korea economies are not the same. However, over time it appears that the structure of domestic prices in both economies is getting more like world prices, and hence more like each other. So differing relative prices is probably less of an issue today than say 20 years ago.

Its less clear that the problem is disappearing with respect to the use of South Korean value-added weights that reflect the underlying techniques of production which remain vastly different across the two economies. Bottom line: we know there are some non-trivial problems with using the South Korean data to construct the North Korean GDP estimates.

Rumors have long circulated that the South Koreans either obtained or constructed a North Korean input-output table which they could use for these calculations, and contrary to the statement in the BOK report, weights derived from this source are used to construct the North Korean national income estimates, not the South Korean value-added weights. I personally do not know whether these claims are true or not.

Here is analysis by the Institute for Far Eastern Studies (IFES) (2014-7-4):

Real GDP of DPRK Grows in 2013, Marking Third Consecutive Year

On June 27, 2014 the Bank of Korea announced that North Korea’s real GDP grew 1.1 percent over the previous year (2013). Despite intense sanctions imposed by the international community, North Korea’s GDP grew by 0.8 percent in 2011 and 1.3 percent in 2012, showing that North Korea has been able to maintain a positive GDP growth rate for three years running.

The Bank of Korea’s “Gross Domestic Product Estimates for North Korea in 2013” report identifies favorable weather as a factor in increased agricultural production and higher crop yields, and points to the expanded production of coal, iron and other mineral resources as the keys to North Korea’s extra 1.1 percent growth.

As for individual sectors, crop production increased by 1.1 percent, the mining industry expanded by 2.1 percent, manufacturing by 1.1 percent, utilities (electricity, gas, water) by 2.3 percent, and the service industry expanded by 0.3 percent. On the other hand, due to a decrease in road construction and other public works projects, the construction sector posted a 1.0 percent decrease despite growth in homebuilding.

According to the Bank of Korea, North Korea’s 2013 gross national income (GNI) was 33.8 trillion won, approximately 1/43 of South Korea’s GNI for the same year. Furthermore, it was reported that North Korea’s GNI per capita in 2013 was 1.379 million won, approximately 1/21 of the GNI per capita of South Korea.

The scale of North Korea’s foreign trade (excluding inter-Korean trade) reached 7.34 billion USD (combined imports and exports) in 2013 — a 530 million USD increase over the previous year.

Exports saw an increase of 11.7 percent compared to 2012, reaching 3.22 billion USD, with exports of minerals and textiles seeing the highest increases of 14.4 percent and 31.2 percent, respectively. Imports in 2013 rose to 4.13 billion USD, an increase of 5 percent. Imports of machinery (-6.4 percent) and mineral production equipment (-3.6 percent) saw decreases, but North Korea saw large increases in textile (20.4 percent) and plastic products (27.5 percent) imports in 2013.

In 2013, the scale of inter-Korean trade decreased by 42.4 percent compared to the previous year, totaling 1.14 billion USD. The suspension of the Kaesong Industrial Complex was responsible for 99.7 percent of the decrease.

The Bank of Korea has estimated North Korean economic growth rates annually since 1991 by acquiring preliminary data through various affiliated agencies related to the North’s economic activities. The System of National Accounts (SNA) of the United Nations is used to estimate North Korean growth from the South.

Share

Hyundai Research Institute: DPRK economic report for 2013

Sunday, March 16th, 2014

According to Yonhap:

The North’s per-capita GDP for last year is estimated at US$854, up $39 from a year earlier, according to the report released by the Hyundai Research Institute (HRI), a South Korean private think tank.

The North’s 2013 per-capita GDP amounts to a mere 3.6 percent of South Korea’s per-capita GDP of $23,838 for the same year, it said

North Korea’s grain production improved on the back of favorable weather conditions, while the country also expanded its investment in various industrial sectors, the report said.

The communist state’s grain production is estimated to have grown some 5 percent last year from a year earlier. The country saw an 8.5 percent on-year rise and 10 percent gain in its grain production, respectively, in 2011 and 2012.

Also, the reclusive nation increased its budget spending for railroads, metal and power generation sectors, which contributed in boosting its economy, the report showed.

Trade between North Korea and its strongest ally China jumped 10.4 percent on-year to reach $6.5 billion last year, while inter-Korean trade sank 42 percent to $1.1 billion due to a five-month halt of an jointly run industrial park.

The 2013 inter-Korean trade figure is the lowest since 2005 when the comparable figure was $1.06 billion.

The Kaesong Industrial Complex was shut down in early April 2013 after the North unilaterally pulled out all of its workers at 123 South Korean firms. It reopened in September after Pyongyang agreed not to repeat such a suspension.

Assistance from the international community to the North also dropped 47 percent on-year to reach $63.1 million last year, the report said.

Though the story does not cite the article from which the data is drawn, you can download the original report by the Hyundai Research Institute here (PDF in Korean).

Read the full story here:
N. Korea’s per-capita GDP grows 4.8 pct in 2013: report
Yonhap
2014-3-16

Share

Economic gap between the two Koreas

Monday, December 23rd, 2013

According to Yonhap:

Trade and economic levels between South and North Korea remained quite wide last year, data showed Monday, pointing to prolonged lackluster business and economic conditions in the reclusive North.

According to the data by Statistics Korea, South Korea’s total trade volume stood at US$1.07 trillion as of 2012, which is 157 times larger than the North’s $6.8 billion. In particular, the South’s exports came to $547.9 billion, 188.9 times larger than those of the North.

The nominal gross national income (GNI) levels between the two Koreas also remained wide.

The GNI for the South was estimated at 1,279.5 trillion won ($1.21 trillion) last year, 38.2 times larger than the North, the data showed. On a per-capita basis, South Korea’s GNI was 18.7 times larger than that of the North.

South Korea also outperformed the North in infrastructure and other social overhead capital spending.

The South’s road network totaled 105,703 kilometers, which compared with the 26,114 km for the North, the data showed. The South had the power generating capacity of 81.8 million kilowatts a year, which is 11.3 times larger than the North.

The only category that the North outperformed the South was in coal production. It produced a total of 25.8 million tons of coal last year, about 10 times the amount of coal produced by the South, according to the data.

The two Koreas had a combined population of 74.4 million, with the South holding a population of about 50 million, the data showed.

The statistics agency has been providing such information on the North every year since 1995 as a way to provide a glimpse into the economic and industrial conditions of the reclusive country.

Read the full story here:
Trade, economic gaps between 2 Koreas remain wide: data
Yonhap
2013-12-23

Share

Bank of Korea publishes DPRK economic statistics

Friday, July 12th, 2013

The Bank of Korea has published its estimated aggregate data on the North Korean Economy for 2012.

You can download the report in English here.

You can download the report in Korean here.

It has been cataloged with previous reports (and many others) on my DPRK economic statistics page.

Here is what Reuters analysis of the data:

North Korea’s economy expanded for a second successive year in 2012, South Korea’s central bank said on Friday, bolstering the claims of new leader Kim Jong-un to be pursuing economic growth alongside strengthening the country’s nuclear deterrence.

The economy of the reclusive and impoverished nation grew 1.3 percent in 2012 as nearly all sectors saw improvement compared to a 0.8 percent annual growth the year before, said the Bank of Korea, one of the few sources of estimates about the economic performance of the North, which does not publish data.

Agriculture, farming and fisheries rose 3.9 percent last year in North Korea on the back of expanded use of fertiliser and an increase in pig and chicken farms, according to the Bank of Korea data, compared to a 5.3 percent growth in 2011.

Livestock farming rose 12.3 percent on an annual basis.

North Korean industrial output and manufacturing both expanded for the first time since 2008 after shrinking for three straight years, rising 1.3 percent and 1.6 percent respectively in 2012 compared to a year ago.

Despite the rise in output, North Korea remains one of the poorest countries on earth and its economy is around a thirtieth the size of industrial powerhouse South Korea.

The Bank of Korea data showed that North Korea’s total trade was worth $6.81 billion in 2012, with exports up an annual 3.3 percent, mostly on the back of chemical products and animal products. Imports were up 10.2 percent.

Trade with South Korea, which the Bank of Korea exempts from North Korea’s trade statistics, was worth $1.97 billion dollars last year, up 15 percent from a year ago. Almost all of that trade comes from the closed Kaesong industrial park.

Here is coverage by the Institute for Far Eastern Studies (IFES):

The Bank of (South) Korea released a report on the economic growth estimation of North Korea in 2012. North Korean economy recorded positive growth for two consecutive years. Per capita gross national income (GNI) rose by 2.7 percent to 1,371,000 KPW against the previous year. However, the gap between the South and North has not narrowed.

Last year, North Korea’s gross domestic product (GDP) growth was estimated to be 1.3 percent. This is the highest level since the financial crisis of 2008 when it surpassed the South Korean economic growth and reached the 3.1 percent growth.

Agricultural production improvement as well as international aid in heavy oil in 2008 permitted the North Korean economy to rebound brieflybut it began to decline resulting in minus growth in 2009 (-0.9 percent), 2010 (-0.5 percent), and 2011 (0.8 percent).

Agriculture, forestry and fishery industries last year made robust growth as well as manufacturing, engendering the boost in the economy. The construction of the Huichon Power Station was completed last year and it is considered to have attributed to the improvement in the power situation.

In terms of industries that accounted for the growth, agriculture, forestry and fishery made up about 23.4 percent of the nominal GDP, recording a production increase by 3.9 percent. Production of livestock such as swine and poultry husbandry rose by 12.3 percent and rice and corn production also increased due to improved fertilizer supply.

Production in manufacturing (21.9 percent of North Korean GDP) made a 1.6 percent increase. The rate of manufacturing production increased by 2.6 percent in 2008 but began to decline from 2009 at -3.0 percent; 2010, -0.3 percent; and 2011, -3.0 percent.

Production improved in food, tobacco and light industries by 4.7 percent, and heavy chemical industries rose by 0.2 percent. Mining (14 percent of GDP) also rose by 0.8 percent due to improvement in coal production. Electricity, gas and water supply (3.5 percent of GDP) also increased by 1.6 percent from the expansion of hydroelectric and thermal power generation. Service industry (29.4 percent of GDP) rose by 0.1 percent. Government services dropped by 0.2 percent but transportation and communication, wholesale and retail, food and lodging services increased by 2.0 and 2.2 percent, respectively. However, construction (7.8 percent of GDP) fell by 1.6 percent due to the decrease in the civil construction such as road works.

Last year, North Korea’s gross national income (nominal GNI) was estimated to be 33.5 trillion KPW. Compared to South Korea’s 1.28 quadrillion KRW, this is a ratio of about 1 to 38.2. By dividing the GNI by North Korean population, per capita gross national income is calculated to be 1,371,000 KRW. Compared to South Korea’s (25,589,000 KRW) it is 1 to 18.7. This is comparable to the figures recorded in 2011 (1 to 18.6).

North Korea’s foreign trade volume (based on only import and export excluding the inter-Korean trade) increased 7.1 percent to 6.81 billion USD. North Korea’s exports (2.88 billion USD) increased by 3.3 percent, mainly in chemical products (38.0 percent) and animal products (23.6 percent). As for imports (3.93 billion USD), textiles (17.6 percent) and transport equipment (6.2 percent) increased by 10.2 percent.

Last year, the size of trade between North-South Korea rose by 15.7 percent over the previous year at 1.97 billion USD. Import and export to and from the Kaesong Industrial Complex accounted for 99.5 percent of the total amount. North Korea’s export increased 12.1 percent — mainly machinery (28.2 percent) and electrical and electronic equipment (16.1 percent) — and imports to South Korea increased by 17.5 percent — electrical and electronic products (25.8 percent) and textiles (12.8 percent).

Here is additional coverage in the Wall Street Journal‘s Korea Real Time, Bloomberg, Straits Times, Foreign Policy.

Read the full stories here:
North Korea posts 2nd successive year of growth-Bank of Korea
Reuters
Christine Kim
2013-7-12

 

Share

ROK reports DPRK economy little changed in the last year

Friday, April 12th, 2013

According to Yonhap:

According to the data compiled by the Ministry of Unification and based on information provided by foreign institutions, there were minor improvements in grain production and electricity output, but the difference was minimal and may have actually fueled inequality.

“Personally, I see almost no change from a year earlier,” said a ministry official, who did not want to be identified.

The data was released to the press to coincide with the first anniversary of the North Korean leader having assumed the country’s top job. Kim inherited the communist country after the death of his father in late 2011, but became the first secretary of the Workers’ Party of Korea on April 11 of last year.

North Korea’s food production is estimated to have increased 10.5 percent on-year to 4.92 million tons in the 2012-2013 grain year, the official said, adding that this translates into a shortage of 210,000 tons, down from 300,000 tons from the previous year.

The official, however, said foreign data is based purely on information given by Pyongyang, and is not reliable.

“There may be a need to carefully look at the data on grain,” he said, hinting at the fact that there have been numerous cases over the years where official information was not supported by facts.

On power production, the recent opening of the Huichon power station has increased output by 21.1 billion kilowatts, but the benefits are mostly being felt by the elite in Pyongyang. Outside the capital city, other regions are still affected by power shortages, he claimed.

The official added that while Kim has been calling for the bolstering of its agriculture and light industries, funds earmarked for these sectors grew at a slower pace than the overall growth of the budget.

The 2013 budget grew 5.9 percent from the year before, but funds for the light industry and farming sectors gained 5.1 percent. Defense spending on the other hand gained 16 percent on-year.

The latest data showed that consumer prices have generally been moving up since last year, potentially putting a greater burden on many people whose salaries have not changed in years, the official said.

Read the full story here:
N.K. economy remains unchanged under new leader: data
Yonhap
2013-4-12

Share

DPRK – China trade in 2011

Wednesday, January 2nd, 2013

According to Bloomberg:

North Korea’s trade with China expanded more than 60 percent to $5.63 billion in 2011 […]

Commerce with China accounted for 70.1 percent of the North’s total $8 billion trade in 2011, up from 57 percent in the previous year, South Korea’s national statistics office, Statistics Korea, said in its annual report today in Seoul. North Korea does not report economic data. Inter-Korean trade amounted to about $1.71 billion in the same year.

Excluding a dip in 2009, trade between the two countries has increased every year since the start of 2000, when the statistics bureau started releasing estimates. Data for 2012 will be released around the end of next year.

North Korea’s economy expanded 0.8 percent in 2011 and gross national income per capita was 1.33 million won ($1,239), nearly one nineteenth that of South Korea’s 25 million won, according to the Bank of Korea. South Korea’s total nominal gross national income was 38.2 times that of the North’s 32.44 trillion won.

The regime imported 3.8 million barrels of crude oil for 2011. Power generation capacity was 6.9 million kilowatts, less than one-10th that of South Korea. Steel production was 1.23 million tons and production of chemical fertilizer production was 471,000 tons.

North Korea’s population rose to 24.3 million in 2011 from 24.2 million the previous year — about half of South Korea’s. Population estimates were based on North Korea’s 1993 and 2008 censuses.

The Los Angeles Times also reported on these findings.

Here is coverage in Business Insider.

The Statistics Korea page for North Korea can be found here.

Read the full story here:
N. Korea’s 2011 China Trade Grew More Than 60 Percent
Bloomberg
Sangwon Yoon
2013-1-2

Share