SEOUL, KOREA - According to major 2013 statistical indexes of North Korea published by the National Statistics Office on December 23, the economic growth rate last year was 1.3 percent, up slightly from 0.8 percent in 2011.

 

The gross national income of North Korea for the same year was 33,479 billion won (US$31.6 billion), about one 38th of the South Korean economy of 1,279,500 billion won ($1,206.6 billion). Per-capita GNI was 1,370,000 won ($1,292), a 19th of the South Korean counterpart of 2,559,000 won ($2,415).

 

North Korean watchers said 2013 will see economic growth for this year would be almost at the same level as the last year's. An analyst at a state-run research institute said, "This year, the North Korean economy will make a 1-percent growth, on the back of the gradually stabilizing exchange rate and domestic prices. The Food and Agriculture Organization estimates that the North's food production this year until October was up 4.5 percent from the same period last year."

 

According to the statistical data released by the National Statistics Office on the 23rd, North Korea's total trade amount in 2012 was $6.8 billion, a 157th of South Korea's. Of the total trade volume, as much as 88 percent ($6.1 billion) is accounted for by that of China. Given the growth pace of exports to and imports from China is slowing, as well as the recent elimination of Chang Song-thaek, Kim Jong-un's uncle and the one who was responsible for trade with China, it is expected the overall trade volume may decline in the years ahead.