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China-North Korea trade drops on sanctions, lack of foreign currency
By 최희석Published : Aug. 25, 2016 - 09:30
[THE INVESTOR] China’s exports to North Korea showed the largest on-year drop in July, Korea International Trade Association said Aug. 24.
According to KITA, China’s exports to North Korea came to US$193 million in July, plunging 27.6 percent from the same month last year. Last month’s decrease is the biggest drop in China’s exports to North Korea this year.
According to KITA, China’s exports to North Korea came to US$193 million in July, plunging 27.6 percent from the same month last year. Last month’s decrease is the biggest drop in China’s exports to North Korea this year.
Along with exports, China’s imports from North Korea also dropped by 5 percent from a year ago to come in at US$227 million, the data showed.
KITA attributed the changes to China’s sanctions against Pyongyang, and to North Korea’s dwindling foreign reserves.
China has been limiting trade with North Korea since April.
By Choi He-suk (cheesuk@heraldcorp.com)
