North Korean Trade With The Outside World

Via Yonhap, an interesting look at North Korea’s foreign trade.  As the report notes:

“…North Korean trade with the outside world, excluding South Korea, hit a record US$3.8 billion last year, a report said Monday, despite rising tensions on the Korean Peninsula.

Trade jumped 29.7 percent compared with 2007, the Korea Trade-Investment Promotion Agency, a South Korean trade agency, said in the report.

Last year, North Korea’s exports rose 23 percent to $1.13 billion with imports climbing 32.7 percent to $2.69 billion, the report said. The country still posted a trade deficit of $1.56 billion for the year.

The report also showed that China’s influence on North Korea’s moribund economy is rising quickly.

The communist nation exported $750 million worth of goods to China and imported $2.03 billion last year.

“North Korea’s trade with China hit a record last year and keeps growing,” the report said.

“In the face of the global economic slump and the North’s rocket launch, North Korea’s external trade is expected to shrink this year. But, China’s influence on the North Korean economy is likely to grow further,” it noted.

This entry was posted on Friday, May 29th, 2009 at 8:36 am and is filed under China, North Korea.  You can follow any responses to this entry through the RSS 2.0 feed.  Both comments and pings are currently closed. 

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