Most Popular
-
1
Dongduk Women’s University halts coeducation talks
-
2
Defense ministry denies special treatment for BTS’ V amid phone use allegations
-
3
Russia sent 'anti-air' missiles to Pyongyang, Yoon's aide says
-
4
OpenAI in talks with Samsung to power AI features, report says
-
5
Two jailed for forcing disabled teens into prostitution
-
6
Trump picks ex-N. Korea policy official as his principal deputy national security adviser
-
7
South Korean military plans to launch new division for future warfare
-
8
Gold bars and cash bundles; authorities confiscate millions from tax dodgers
-
9
Kia EV9 GT marks world debut at LA Motor Show
-
10
Teen smoking, drinking decline, while mental health, dietary habits worsen
Pyongyang’s overseas trade drops for first time in 6 years
By Korea HeraldPublished : June 15, 2016 - 19:02
[THE INVESTOR] North Korea’s trade volume came in at $6.25 billion in 2015, dropping 18 percent compared to the previous year, South Korean data showed on June 15.
According to the data released by the Korea Trade-Investment Promotion Agency, both exports and imports recorded a year-on-year drop to bring down Pyongyang’s overall trade volume.
The data showed that exports dropped 15 percent to come in at $2.7 billion, imports fell 20 percent to come in at $3.55 billion. With the changes, Pyongyang’s trade deficit decreased 33 percent to come in at $850 million.
According to the data released by the Korea Trade-Investment Promotion Agency, both exports and imports recorded a year-on-year drop to bring down Pyongyang’s overall trade volume.
The data showed that exports dropped 15 percent to come in at $2.7 billion, imports fell 20 percent to come in at $3.55 billion. With the changes, Pyongyang’s trade deficit decreased 33 percent to come in at $850 million.
KOTRA attributed the drop in Pyongyang’s trade volume to slowing Chinese economy, and the drop in the price of commodities traded with China such as coal and crude oil.
KOTRA said that the volume of North Korean coal shipped to China increased 26.9 percent, but the value dropped 7.6 percent due to the fall in coal prices.
China is North Korea’s biggest trade partner, with trade with China accounting for 91.3 percent of the country’s entire trade volume.
China was followed by Russia, India, Thailand and Ukraine.
By Choi He-suk (cheesuk@heraldcorp.com)
-
Articles by Korea Herald
