Top Import Trading Partners of North-korea - Volza

North Korea's primary import trading partners in 2023 include China (85% of imports, $3.4 billion), Russia (6%, $240 million), India (3%, $120 million), Thailand (2%, $80 million), and Philippines (1%, $40 million).

Key imports from these countries include machinery, electronics, foodstuffs, fuel, and pharmaceuticals. Despite the lack of formal trade agreements due to international sanctions, bilateral arrangements and informal trade facilitate these imports.

North Korea's GDP growth rate and inflation rate are difficult to ascertain accurately due to data restrictions, but the country faces significant economic challenges, including inflation and resource scarcity. Strategic tariffs and government incentives, such as favorable import duties and state-controlled trade, support these crucial trade relationships. North Korea's geographical location and strategic alliances play a significant role in its import dynamics, ensuring the steady inflow of essential goods.