What are North Korea's most valuable exports?

Minerals are North Korea’s most valuable exports. The country is rich in various natural resources, which are a major source of export revenue. Key minerals exported by North Korea include coal, iron ore, copper, and rare earth elements.

What is North Korea's export economy?

North Korea’s export economy is relatively small, largely influenced by the country’s political isolation, economic sanctions, and limited access to global markets. Despite these constraints, North Korea has managed to develop key export sectors, including minerals, textiles, and agricultural products.

What are North Korea's top export categories?

North Korean shipments of ores, slag and ash (up 40.6%) and inorganic chemicals (up 34.6%) also posted robust increases. The leading decliners among North Korea’s top 10 export categories were reduced sales of North Korean vehicles (down -64.3%), iron and steel (down -39.6%), then mineral fuels including oil (down -31.2%).

What minerals does North Korea export?

Key minerals exported by North Korea include coal, iron ore, copper, and rare earth elements. Despite the ongoing international sanctions that target its mineral exports, the nation continues to trade these resources, mainly with China, its primary trading partner.

Which country imports the most products from North Korea?

The top destinations were China ($292M), Poland ($10.3M), Senegal ($10.3M), Angola ($10.2M), and Austria ($10.1M). In 2023, the top imports of North Korea were Processed Hair ($160M), Soybean Oil ($90M), Mixed Mineral or Chemical Fertilizers ($80.7M), Synthetic Filament Yarn Woven Fabric ($80.5M), and Rice ($76.8M).

What are net exports in North Korea?

In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services. Historically, North Korea has earned highly positive net exports in the international trade of the metals iron and steel.