North Korea-China Trade Hits Post-2017 High in August as Exports to China Surge

▲ North Korea-China Smugglers' vehicles (File Photo)

Trade volume between North Korea and China last month reached its highest level since 2017, when UN Security Council sanctions on North Korea took full effect.

According to Voice of America (VOA), an analysis of August trade data from the General Administration of Customs of China showed that total imports and exports between North Korea and China during this period reached approximately $237.88 million (about 330.2 billion won).

This represents a 3.7% increase compared to the previous month ($229.36 million) and a 30.9% increase from the same period last year ($181.71 million).

It is also the highest August figure since 2017, when a series of UN Security Council sanctions resolutions against North Korea were adopted.

Bilateral trade between North Korea and China plunged from $604.26 million in August 2017 to $219.86 million in August 2018 following the implementation of sanctions.

While trade rebounded to $236.38 million in August 2019, August's performance this year surpassed even that figure.

The growth in North Korea's exports to China was particularly notable.

Last month, North Korea exported $55.03 million worth of goods to China, up 24% from $44.37 million in July.

Compared to August of last year ($34.09 million), it surged by 61.4%.

This marks the first time North Korea's monthly exports to China have surpassed $50 million since August 2017.

Under sanctions, North Korea's August exports to China had typically remained in the $10 million to $20 million range.

North Korea's imports from China stood at $182.85 million, down 1.1% from the previous month ($184.98 million), but up 23.9% from August of last year ($147.61 million).

From January to August this year, cumulative trade between North Korea and China reached $1,973.93 million, putting it on the verge of surpassing the $2 billion mark, VOA reported.

※