The Koreas

Coronavirus: The Economic Costs for North Korea

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The Koreas | Economy | East Asia

Coronavirus: The Economic Costs for North Korea

The outbreak, and Pyongyang’s response, will seriously strain the North Korean economy.

Coronavirus: The Economic Costs for North Korea
Credit: Flickr/ (stephan)

Despite Pyongyang’s efforts to insulate itself from the spread of the coronavirus, North Korea will not be able to insulate its economy from the consequences of the infectious disease.

Cognizant of its vulnerabilities, North Korea was one of the first countries to take steps to stop the spread of the coronavirus known as COVID-19. In late January, Pyongyang ended foreign tourism and reportedly closed its borders with Russia and China shortly thereafter (though there are indications that some goods are still being imported). These decisions have had economic consequences.

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