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Fri, March 24, 2023 | 01:40
Business
Economic gap between two Koreas widens rapidly
Posted : 2015-12-16 15:40
Updated : 2015-12-16 20:52
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By Choi Sung-jin

South Korea's population is double that of North Korea, the South's economy is 44 times larger than the North's, and the former's trade volume is 114 times bigger than the latter, a government report said.

North Korea's population was 24.66 million last year, or 48.9 percent of the South's 50.42 million, according to the "Major statistical indicators of North Korea in 2015," released Tuesday by Statistics Korea. Compared with 1994, the South's population has increased 13 percent while that of the North rose 15.2 percent.

The gaps between the two Koreas continued to widen in economic indices.

North Korea's nominal gross national income totaled 34.23 trillion won ($29.25 billion) last year, or 2.3 percent of the South's 1,496.6 trillion won. South Korea's economy was 31.3 times larger than the North's in 1997, but the gap widened to 41.9 times in 2007 and to 43.7 times in 2014. Reflecting North Korea's closed and self-reliant economic system, its foreign trade stopped at $7.6 billion, compared with the South's $1.09 trillion.

The gap was even wider in industrial production. South Korea produced 4.52 million motor vehicles, 1,132.4 times higher than the North's 4,000. The South's steel production and power generation capacity were also 58.6 times and 13 times larger than the North's.

North Korea was ahead of the South only in three areas – coal production (27.09 million tons versus 1.74 million tons), iron ore production (5.48 million tons vs. 690,000 tons), and the total length of railways (5,302 km vs. 3,590 km).

Emailchoisj@ktimes.com Article ListMore articles by this reporter
 
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