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Economic disparity between two Koreas remains wide

(Xinhua)
Updated: 2009-10-26 16:44

SEOUL: The economic gap between South Korea and the Democratic People's Republic of Korea (DPRK) remained wide in 2008 mainly because the DPRK blocked its trade and other economic activities with the outside world, government data showed Monday.

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According to the data provided by the finance ministry and the National Statistical Office, South Korea's trade volume topped $857. 3 billion last year, 225.6 times larger than the DPRK's $3.8 billion.

While South Korea's exports and imports topped $422.0 billion and $435.3 billion , the DPRK posted $1.1 billion exports and $2.7 billion imports, the data showed.

The two Koreas tallied a considerable disparity in their gaps last year as well, with South Korea's gross nation income (GNI) standing at $934.7 billion, 37.7 times greater than the DPRK's $24.8 billion.

In terms of per-capita GNI, South Korea marked an 18-fold larger figure than the DPRK, the data added.

The two nations' manufacturing sectors showed more clear-cut differences, with South Korea outperforming the DPRK in automobile, energy, and agriculture sectors.

However, South Korea was excelled by the DPRK in the mining industry, according to the data.

Local experts point to the DPRK's closed economic system, which keeps its economic system away from exchanges with the outside world.

The two Koreas have been separated since 1953 when the Korean War ended in a truce, remaining technically at war.