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Half of North Korea’s population lives in extreme poverty with limited access to basic necessities. Despite having underground mineral deposits worth over $6 trillion, the country lacks the infrastructure and technology to exploit them. North Korea’s top exports include anthracite coal, statues, and counterfeit banknotes.
About half of all North Koreans live in extreme poverty. The country’s 24 million inhabitants live mainly on corn and kimchi; fuel for cooking and heating is scarce. Electricity is sporadic: homes often only have electricity for a few hours a day. However, neighboring South Korea estimates that North Korea’s underground mineral deposits could be worth $6 trillion or more. Unfortunately, North Korea lacks the infrastructure and modern technology needed to mine the plentiful supply of coal, limestone, magnesite and uranium ore. Billions of dollars of gold, zinc, manganese, iron and copper are also waiting to be exploited, as well as rich sources of rare earth metals needed to make semiconductors and smartphones. In addition, mining experts have reported that many of the secret country’s mines are flooded or in ruins.
Some of North Korea’s top exports:
The UN sanctions against North Korea do not include the export of natural resources, so China has been a regular buyer of anthracite coal from North Korea.
North Korea has gotten good at building statues. For example, Zimbabwe bought two statues of President Robert Mugabe for $5 million USD. Also buyers are Angola, Egypt, Ethiopia and Germany.
North Korea is the world leader in the production of counterfeit banknotes. The United States Secret Service considers the country’s counterfeit $100 bills, known as “supernotes,” to be the most sophisticated counterfeit currency in the world.
