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North Korea still owes 2.2 billion Swedish kronor (234 million euros) to Sweden from these imports. Out of all countries, the North Korean debt to Sweden is the largest, followed by Iraq whose debt is a billion kronor smaller. [10]
The automotive industry in North Korea is a branch of the national economy, with much lower production than the automotive industry in South Korea. In North Korea , motor vehicle production is focused on military and industrial goals, including construction; few private citizens own cars.
By 2000, taking into account penalties and accrued interest, North Korea's debt was estimated at $10–12 billion. [79] By 2012, North Korea's external debt had grown to an estimated US$20 billion despite Russia reportedly writing off about $8 billion of debt in exchange for participation in natural resources development.
North Korea's nominal gross national income in 2023 was estimated to be 1.59 million won ($1,147.56) per capita, equivalent to just 3.4% of the South's 47.25 million won.
Economic reforms in North Korea has been encouraged by China. While visiting Pyongyang in June 2019, Chinese paramount leader Xi Jinping said that Kim Jong Un had “initiated a new strategic line of economic development and improving people’s livelihoods, raising socialist construction in the country to a new high tide.” [ 10 ]
This is a list of countries by credit rating, showing long-term foreign currency credit ratings for sovereign bonds as reported by the largest three major credit rating agencies: Standard & Poor's, Fitch, and Moody's.
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