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  • 2020/2021 The DPRK Economic Outlook
  • Date July 08, 2021
  • Language English
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    Preface
    Contributor

    CHAPTER 1
    North Korea’s Economic Crisis, How Far will it Go?

    CHAPTER 2
    North Korea’s Fiscal Shock : What are the Economic Implications?

    CHAPTER 3
    Impacts of COVID-19 on North Korea’s Trade

    CHAPTER 4
    The North Korean Economy based on the Market Price and FX Rate

    Statistical Appendix
The North Korean economy was driven to the proverbial brink in 2020 by the Covid-19 crisis and escalating fallout from the stronger sanctions since 2016. At the beginning of the year, the regime sealed off its borders to China and Russia in an effort to ward off the virus, and did not reopen them until the following year. Inevitably, overseas trade was brought to a near collapse as transactions with China plummeted by 80% year-on-year. It is easy to estimate how dire the situation was in 2020 when we consider the fact that North Korea’s trade with China was already at a mere 50% of the previous year in 2019.
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Office of Global Economy
Providing Economic Forecast and Macroeconomic Policy Direction, the Groundwork for a Brighter Future

The Department of Macroeconomics is conducting researches on the macro economy and macroeconomic policy, particularly focusing on suggesting the analysis of macroeconomic trends and current status of the economy at home and abroad, the economic forecast, and the policy direction of the macro economy. The Department is also in charge of establishing, sustaining and maintaining various econometric models, based on which it analyses policy effects and develops a long-term economic forecast.

Main Tasks
  • Economic trend analysis, short- and long-term forecast
  • Policy study on macroeconomic management
  • Basic structural analysis on macroeconomic areas
  • Maintenance of multi-sectoral dynamic macroeconomic model
Department of Macroeconomic Policy
  • LEE. Tae Suk

    Director, Division of Analysis and Evaluation

    82-044-550-4725
  • CHO, Byungkoo On leave

    Director and Vice President, Department of North Korean Economy

    82-044-550-4725
  • LEE, Jongkyu

    Fellow

    82-044-550-4725
  • WEE, Hyeseung Dispatched

    Research Associate

    82-044-550-4725
  • NAM, Jinwook On leave

    Specialist

    82-044-550-4725
  • KIM, Seulki

    Research Associate

    82-044-550-4725
  • CHUN, Eunkyung

    Research Associate

    82-044-550-4725
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