North Korea: Property rights
* indicates monthly or quarterly data series
North Korea |
Property rights index (0-100) |
---|---|
Latest value | 16 |
Year | 2024 |
Measure | points |
Data availability | 1995 - 2024 |
Average | 12 |
Min - Max | 5 - 32 |
Source | The Heritage Foundation |
The latest value from 2024 is 16 points, a decline from 17 points in 2023. In comparison, the world average is 54 points, based on data from 180 countries. Historically, the average for North Korea from 1995 to 2024 is 12 points. The minimum value, 5 points, was reached in 2009 while the maximum of 32 points was recorded in 2017.
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The property rights index for North Korea from The Heritage Foundation reflects the ability of individuals to accumulate private property, secured by clear laws that are fully enforced by the state. It also measures the likelihood of expropriation in North Korea as well as the extent of corruption in the judiciary and the enforcement of contracts.
Definition: The property rights index measures the degree to which a country’s laws protect private property rights and the degree to which its government enforces those laws. It also assesses the likelihood that private property will be expropriated and analyzes the independence of the judiciary, the existence of corruption within the judiciary, and the ability of individuals and businesses to enforce contracts. Higher index values denote more certain legal protection of property.
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Related indicators | Latest | Reference | Measure |
---|---|---|---|
Property rights | 16 | 2024 | points |
Freedom from corruption | 4 | 2024 | points |
Fiscal freedom | 0 | 2024 | points |
Business freedom | 5 | 2024 | points |
Labor freedom | 5 | 2024 | points |
Monetary freedom | 0.00 | 2024 | points |
Trade freedom | 0 | 2024 | points |
Investment freedom | 0 | 2024 | points |
Financial freedom | 0 | 2024 | points |
Economic freedom, overall index | 3 | 2024 | index points |