Last Year, North Korea's Per Capita Income Was 1.38 Million Won... 4% of South Korea's

Statistics Korea Announces Key Statistical Indicators of North Korea for 2021
Economic Growth Rate -4.5%... Returns to 'Negative' After One Year

Employees of the Ryukjeon Department Store in Pyongyang, North Korea, spraying disinfectant in the store on October 20 as part of COVID-19 prevention measures. (Image source=AFP Yonhap News)

[Sejong=Asia Economy Reporter Moon Chaeseok] Last year, North Korea's per capita Gross National Income (GNI) was 1.38 million won, which is only 4% of South Korea's, according to a recent survey.

According to the "2021 North Korea Major Statistical Indicators" released by Statistics Korea on the 23rd, North Korea's per capita GNI last year was 1,379,000 won, a decrease of 29,000 won from 1,408,000 won the previous year. North Korea's per capita GNI peaked at 1,464,000 won in 2017 and then declined for three consecutive years. GNI is an indicator that reflects the average living standard of the population and represents the total income received by citizens for participating in domestic and international production activities or providing assets necessary for production.

The GNI gap between South and North Korea is widening. In 2010, the gap was 21.5 times, with South Korea at 26.73 million won and North Korea at 1.242 million won. Last year, the gap expanded to 27.3 times, with South Korea at 37.621 million won and North Korea at 1.379 million won.

North Korea's economic growth rate (real GDP growth rate) last year was estimated at -4.5%. After two consecutive years of negative growth in 2017 (-3.5%) and 2018 (-4.1%), it turned positive in 2019 (0.4%) for the first time in three years but then declined again. The decrease in growth rates across industries such as agriculture, forestry and fisheries (-7.6%), mining and manufacturing (-5.9%), and services (-4%) is believed to have influenced this downturn.

North Korea's aging population is also intensifying. Last year, those aged 65 and over accounted for 10% of the total population. Generally, when the proportion of the population aged 65 and over exceeds 7%, a society is classified as an "aging society." The proportion of elderly people aged 65 and over in North Korea has expanded from 7.7% in 2005, 9% in 2010, 10.2% in 2015, 9.9% in 2019, to 10% last year.

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