Chinese trade with North Korea shrinks due to sanctions: Yonhap

By Park Sae-jin Posted : May 24, 2016, 12:27 Updated : May 24, 2016, 12:27

[Yonhap News Photo]


China's imports of North Korean goods nosedived 22.3 percent on-year in April, data showed Tuesday, after tightened UN sanctions against Pyongyang have started to bite.

China imported $161.3 million worth of North Korean goods last month, compared with $207.8 million for the same month last year, according to Chinese customs data compiled by the Beijing unit of South Korea's Korea Trade and Investment Promotion Agency.

The plunge in the imports of North Korean goods suggested that China, the North's economic lifeline, has been strictly implementing the latest UN sanctions, which were adopted in early March following the North's fourth nuclear test in early January and long range missile launch a month later.

China's exports to North Korea fell 1.53 percent on-year to $268 million last month.

In April, bilateral trade between North Korea and China were down a sharp 10.5 percent compared to the year before to $429 million, according to the latest data.

The UN sanctions ban exports of mineral resources, including coal, iron, gold and rare earth metals, from North Korea, if the proceeds are used for the North's nuclear or arms program.

The data showed China's imports of North Korean coal plunged 38.34 percent on-year to $72.2 million last month. Coal accounted for nearly half of China's total imports from North Korea.

(Yonhap)
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