Economy of North Korea.....

The economy of North Korea is a centrally planned economy, where the role of market allocation schemes is limited, although increasing.....

 

As of 2020, North Korea continues its basic adherence to a centralized command economy. There has been some economic liberalization, particularly after Kim Jong-un assumed the leadership in 2012, but reports conflict over particular legislation and enactment.
The collapse of the Eastern Bloc from 1989 to 1991, particularly North Korea's principal source of support, the Soviet Union, forced the North Korean economy to realign its foreign economic relations, including increased economic exchanges with South Korea. 

 

China is North Korea's largest trading partner. North Korea's ideology of Juche has resulted in the country pursuing autarky in an environment of international sanctions. While the current North Korean economy is still dominated by state-owned industry and collective farms, foreign investment and corporate autonomy have slightly increased.

North Korea had a similar GDP per capita to its neighbor South Korea from the aftermath of the Korean War until the mid-1970s, but had a GDP per capita of less than $2,000 in the late 1990s and early 21st century. For 2018 the Bank of Korea estimated the GDP growth as −4.1%.