ID :
86302
Mon, 10/26/2009 - 23:59
Auther :
Shortlink :
https://www.oananews.org//node/86302
The shortlink copeid
Economic gap between two Koreas remains wide: data
SEOUL, Oct. 26 (Yonhap) -- South Korea's economy stayed well ahead of the North
last year as Pyongyang's closed economic system hampered its trade and other
outbound business activities, government data showed Monday.
According to the data provide by the finance ministry and the National
Statistical Office, South Korea's total trade volume amounted to US$857.3 billion
last year, 225.6 times larger than the North's $3.8 billion.
South Korea's exports totaled $422.0 billion compared with $1.1 billion posted by
the North, while its imports came to $435.3 billion compared with $2.7 billion by
the communist country, the data showed.
The income gap also remained wide between the two Koreas. South Korea's gross
national income stood at $934.7 billion last year, 37.7 times larger than the
North's GNI of $24.8 billion during the same year. South Korea's per-capita GNI
was 18.1 times larger than North Korea's, the data showed.
In the manufacturing sector, the disparity was more evident.
South Korea churned out 4.08 million cars and had a steel-producing capacity of
51.51 million tons in 2007, with the North manufacturing a mere 5,000 vehicles
and maintaining a steel-producing capacity of 1.23 million tons during the same
year, the data showed.
The latest tally, in addition, showed South Korea outperforming the North in both
the energy and agriculture sectors, generating 403.1 billion kWh in 2007 compared
to the North's 23.6 billion kWh, the data showed. The South also produced 4.4
million tons of rice compared with 1.5 million tons in the North.
North Korea, however, outpaced its South counterpart in the mining industry with
its coal production amounting to 24.1 million tons in 2007 compared with the
South's 2.9 million tons, according to the data.
Experts attribute the wide economic gap between the two Koreas mainly to the
North's closed economic system that inhibits free trade with the outside world.
The two remains technically at war as the 1950-53 conflict ended in a truce.
"The North focuses on the agriculture and military sectors with its
industrialization still remaining comparatively undeveloped, while we have
already emerged as a global powerhouse in the manufacturing sector, making it
tough to catch-up," a government official explained.
kokobj@yna.co.kr
(END)
last year as Pyongyang's closed economic system hampered its trade and other
outbound business activities, government data showed Monday.
According to the data provide by the finance ministry and the National
Statistical Office, South Korea's total trade volume amounted to US$857.3 billion
last year, 225.6 times larger than the North's $3.8 billion.
South Korea's exports totaled $422.0 billion compared with $1.1 billion posted by
the North, while its imports came to $435.3 billion compared with $2.7 billion by
the communist country, the data showed.
The income gap also remained wide between the two Koreas. South Korea's gross
national income stood at $934.7 billion last year, 37.7 times larger than the
North's GNI of $24.8 billion during the same year. South Korea's per-capita GNI
was 18.1 times larger than North Korea's, the data showed.
In the manufacturing sector, the disparity was more evident.
South Korea churned out 4.08 million cars and had a steel-producing capacity of
51.51 million tons in 2007, with the North manufacturing a mere 5,000 vehicles
and maintaining a steel-producing capacity of 1.23 million tons during the same
year, the data showed.
The latest tally, in addition, showed South Korea outperforming the North in both
the energy and agriculture sectors, generating 403.1 billion kWh in 2007 compared
to the North's 23.6 billion kWh, the data showed. The South also produced 4.4
million tons of rice compared with 1.5 million tons in the North.
North Korea, however, outpaced its South counterpart in the mining industry with
its coal production amounting to 24.1 million tons in 2007 compared with the
South's 2.9 million tons, according to the data.
Experts attribute the wide economic gap between the two Koreas mainly to the
North's closed economic system that inhibits free trade with the outside world.
The two remains technically at war as the 1950-53 conflict ended in a truce.
"The North focuses on the agriculture and military sectors with its
industrialization still remaining comparatively undeveloped, while we have
already emerged as a global powerhouse in the manufacturing sector, making it
tough to catch-up," a government official explained.
kokobj@yna.co.kr
(END)
