North Korea Monitor

2007 North Korean GDP Figures

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Via the Korea Times:

North Korea’s gross domestic product (GDP) remained unchanged at $40 billion for the third consecutive year in 2007, according to the latest report by the top U.S. intelligence agency. But the North’s per capita GDP rose by about 5 percent to $1,900 last year from $1,800 in 2006, the Central Intelligence Agency said in its World Factbook 2008, which is now available on its Website.

Something doesn’t add up here. How can total GDP remain unchanged yet GDP per capita increased by 5%? The CIA calculate GDP per capita as  “GDP on a purchasing power parity basis divided by population as of 1 July for the same year (see: CIA 2008 World Factbook).” Please correct me if I’m wrong, but if GDP did not change that would imply that population decreased. In fact, this is not the case. North Korea’s population slightly increased:

 North Korea’s population was estimated at 23.3 million as of last July, a rise of 0.785 percent, or some 188,700, from 23,113,019 a year ago (Korea Times).

 North Korea does not publish official GDP figures. All figures above were estimated by the CIA using available data.

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Written by nkmonitor

March 13, 2008 at 1:28 am

Posted in Inside North Korea

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