That calculated dollar amount results from a 105.7% acceleration compared to $188.6 million five years earlier in 2020.
Year over year, the total value of North Korean exported goods flatlined via a 0.3% gain from $386.9 million during 2023.
The 5 biggest exported products from North Korea in 2024 include wigs, false eyelashes and the like made from human or animal hair, tungsten ores and concentrates, electrical energy, iron ferroalloys, then assembled watch components. Combined, that quintet of major North Korean exports represents almost three-quarters (72%) of the country’s overall value of globally exported goods during 2024.
North Korea’s Major Trading Partners
The latest available country-specific data shows that 98.5% of products exported from North Korea was bought by importers in: mainland China (89.8% of the North Korean total), Poland (2.5%), Togo (1.7%), Suriname (1%), Indonesia (0.73%), Spain (0.72%), Burkina Faso (0.6%), Trinidad and Tobago (0.4%), India (0.3%), Mozambique (0.22%), Barbados (0.21%) and Benin (0.2%).
From a continental perspective, 91.2% of North Korea’s exports by value was delivered to fellow Asian countries while 3.7% was sold to importers located in Europe. North Korea shipped another 3.1% worth of goods to buyers in Africa.
Smaller percentages went to customers in Latin America (1.9%) including Mexico, and North America’s United States (0.01%).
Given North Korea’s population of 26.2 million people, its total $387.9 million in 2024 exports translates to about $15 for every resident in that country. That metric exceeds the average $13 per capita one year earlier in 2023.
North Korea’s Top 10 Exports
The following export product groups represent the highest dollar value in North Korean global shipments during 2024. Also shown is the percentage share each export category represents in terms of overall exports from North Korea.
- Feathers, artificial flowers, hair: US$189.4 million (48.8% of total exports)
- Ores, slag, ash: $46.6 million (12%)
- Iron, steel: $23.4 million (6%)
- Mineral fuels including oil: $22.2 million (5.7%)
- Clocks, watches including parts: $16.6 million (4.3%)
- Inorganic chemicals: $8.9 million (2.3%)
- Silk: $6.9 million (1.8%)
- Vehicles: $6.4 million (1.6%)
- Toys, games: $6.2 million (1.6%)
- Plastics, plastic articles: $5.9 million (1.5%)
North Korea’s top 10 export product categories generated 85.7% of the overall value of its global shipments in 2024.
Toys and games represent North Korea’s fastest grower among the top 10 export categories, up by 908.3% from 2023 to 2024.
In second place for improving export sales was the clocks and watches group including parts via a 295.7% advance.
North Korean shipments of ores, slag and ash (up 40.6%) and inorganic chemicals (up 34.6%) also posted robust increases.
The leading decliners among North Korea’s top 10 export categories were reduced sales of North Korean vehicles (down -64.3%), iron and steel (down -39.6%), then mineral fuels including oil (down -31.2%).
The above listed product groups are at the 2-digit Harmonized Tariff System (HTS) code level.
Drilling down to 4-digit HTS codes, the top 10 most valuable exports from North Korea are wigs, false eyelashes and the like made from human or animal hair (48.4% of the North Korean total), tungsten ores and concentrates (8.1%), electrical energy (5.7%), iron ferroalloys (5.6%), assembled watch components (4.2%), molybdenum ores and concentrates (3.9%), cars (1.5%), carbides (also 1.5%), chemical industry products or residuals (1.2%), then miscellaneous preserved fruits (1.1%).
Products Generating Highest Trade Surpluses for North Korea
The following types of North Korean product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.
In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.
- Iron, steel: US$23 million (Down by -40.1% since 2023)
- Ores, slag, ash: $20.6 million (Up by 35.9%)
- Feathers, artificial flowers, hair: $15.2 million (Reversing a -$4 million deficit)
- Silk: $6.9 million (Up by 4.7%)
- Vehicles: $6.4 million (Down by -64.3%)
- Machinery including computers: $3.9 million (Down by -65.1%)
- Vegetable/fruit/nut preparations: $3.1 million (Reversing a -$1.6 million deficit)
- Plaiting products, basketware, wickerwork: $1.7 million (Up by 95.7%)
- Electrical machinery, equipment: $1.1 million (Down by -90.4%)
- Articles of iron or steel: $1 million (Up by 5.4%)
Historically, North Korea has earned highly positive net exports in the international trade of the metals iron and steel. In turn, these cashflows indicate North Korea’s strong competitive advantages under the iron and steel materials category.
Products Causing Worst Trade Deficits for North Korea
North Korea recorded an overall -US$1.58 billion trade deficit for 2024, down by -6.9% from the -$1.7 billion deficit one year earlier in 2023.
Below are exports from North Korea that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country North Korea’s goods trail North Korean importer spending on foreign products.
- Plastics, plastic articles: -US$225.5 billion (Up by 9.9% since 2023)
- Organic chemicals: -$129 million (Up by 336.9%)
- Manmade filaments: -$110.4 million (Up by 24.3%)
- Animal/vegetable fats, oils, waxes: -$100.1 million (Down by -19.4%)
- Furniture, bedding, lighting, signs, prefabricated buildings: -$88 million (Up by 37.9%)
- Knit or crochet clothing, accessories: -$71.6 million (Up by 20.7%)
- Knit or crochet fabric: -$58.5 million (Down by -28.3%)
- Ceramic products: -$55.7 million (Up by 3.7%)
- Rubber, rubber articles: -$55.7 million (Down by -12.6%)
- Manmade staple fibers: -$44.8 million (Up by 17.3%)
North Korea has highly negative net exports and therefore deep international trade deficits for plastics, both as materials and items made from plastic.
North Korean Export Companies
Not one North Korean corporation ranks among Forbes Global 2000.
According to global trading e-commerce platform Alibaba, the following are examples of exports-related companies from North Korea.
- Elpis Corporation (engine oil)
- Groon Co. Ltd (metal scrap including electronics scrap)
- Hai Dan (cosmetics)
- Kim’s Enterprise & Supplying Co. Ltd (construction machinery)
- Korea Ryonghung Trading Corporation (anthracite coal, lead)
- KQ Earphone (earphones, headphones)
- Pishon Technology (LCD panels)
Based on data from Trading Economics, North Korea’s exported goods represent 2.1% of total North Korean economic output–formally called its Gross Domestic Product (US$18.4 billion) on a purchasing power parity basis. That percentage exceeds the 1.7% for 2023, suggesting North Korea’s small yet growing depending on international trade for its economic health.
Another key economic indicator is a country’s unemployment rate. North Korea’s average unemployment rate was 3% in 2023, up from the average North Korean jobless rate of 2.97% for 2022.
North Korea’s capital city is Pyongyang, nicknamed the “Capital of Willows”.
See also South Korea’s Top 10 Exports and China’s Top 10 Imports
Research Sources:
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on May 6, 2025
Heritage.org, 2024 Index of Economic Freedom: North Korea (GDP based on Purchasing Power Parity). Accessed on May 6, 2025
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on May 6, 2025
Investopedia, Net Exports Definition. Accessed on May 6, 2025
The World Factbook, Country Profiles, Central Intelligence Agency. Accessed on May 6, 2025
Trade Map, International Trade Centre. Accessed on May 6, 2025
Wikipedia, List of Companies of North Korea. Accessed on May 6, 2025
Wikipedia, North Korea. Accessed on May 6, 2025