The economy in North Korea is largely state-controlled and centrally planned. It is characterized by limited market reforms and heavy government control, an emphasis on self-reliance, and a focus on military spending. The country faces numerous economic challenges, including international sanctions, a lack of foreign investment, limited access to international markets, and a scarcity of resources. Agriculture is a significant sector, employing a large portion of the population and facing chronic food shortages. North Korea also has some mineral resources, including coal, iron ore, and rare earth minerals, but these are not fully exploited due to limited technology and infrastructure.
