North Korea: Business freedom

(measure: points; Source: The Heritage Foundation)
* indicates monthly or quarterly data series

North Korea: Business freedom index (0-100)

: For that indicator, The Heritage Foundation provides data for North Korea from 1995 to 2020. The average value for North Korea during that period was 18 points with a minimum of 0 points in 2006 and a maximum of 40 points in 1995. The latest value from 2020 is 5 points. For comparison, the world average in 2020 based on 183 countries is 63 points. See the global rankings for that indicator or use the country comparator to compare trends over time.
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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).
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