North Korea: Business freedom

The latest value from 2024 is 5 points, unchanged from 5 points in 2023. In comparison, the world average is 62 points, based on data from 175 countries. Historically, the average for North Korea from 1995 to 2024 is 16 points. The minimum value, 0 points, was reached in 2006 while the maximum of 40 points was recorded in 1995. See the global rankings or world map for that indicator or use the country comparator to compare trends over time.

The Business Freedom index for North Korea from The Heritage Foundation measures the ability to start, operate, and close a business. It reflects the overall burden of regulations and the efficiency of the government of North Korea in the regulatory process.

Definition: The Business freedom index is based on 10 indicators, using data from the World Bank’s Doing Business study: Starting a business-procedures (number), time (days), cost (% of income per capita), and minimum capital (% of income per capita); Obtaining a license—procedures (number), time (days), and cost (% of income per capita); Closing a business—time (years), cost (% of estate), and recovery rate (cents on the dollar).