North Korea: An Isolated Enigma

May 15, 2025, 11:20 am EDT

North Korea is often perceived as a country seemingly cut off from the rest of the world. In 2020, due to the global pandemic, North Korea closed its borders, which led to a significant decrease in its foreign trade. Its total foreign trade volume was $860 million in 2020, and it was expected to be less than $300 million in the following year, a sharp contrast to South Korea's trade volume which exceeded $1 trillion in the same period. The number of inbound and outbound passengers also shows a huge gap between the two countries, with North Korea having only a fraction of South Korea's figures.