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[Graphic News] South-North Korean economic gap widens

By Korea Herald

Published : July 19, 2015 - 16:42

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Major economic indicators show that the economic gap between South and North Korea is widening.

According to data released by the Bank of Korea in Seoul last week, North Korea’s nominal gross national income came in at 34.2 trillion won ($29.8 billion) last year, which is roughly 2.3 percent of South Korea’s 2014 GNI of 1,496.6 trillion won.

North Korea’s nominal GNI per capita also stood at 1.39 million won, meaning an average North Korean individual produces approximately 4.7 percent of what the average South Korean does.

Meanwhile, North Korea’s trade volume in 2014 amounted to $7.61 billion, up 3.7 percent from the $7.34 billion in 2013.

In addition, North Korea’s GDP grew 1 percent in 2014 largely due to growth in construction and services.

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