BILATERAL trade between North Korea and China declined by 14.8 per cent from January to November 2015 compared to the same period a year ago, to US$4.9 billion, according to a report by the Korea Development Institute (KDI) in South Korea.
Research fellow at KDI, Lee Jong-kyu, who authored the report, blamed chilling ties between Pyongyang and Beijing for the decline in imports. He reported the main reason for the decrease in exports was the sluggish shipments of natural resources, reported Voice of America.
Mr Lee said North Korean internal policy might have also contributed to the decline in imports given that leader Kim Jong Un has recently spoken out against North Korea's penchant for foreign goods, advocating the use of domestic goods instead.
Mr Lee said Pyongyang's nuclear test last month was also likely to hurt bilateral trade between the two sides in 2016.
"Beijing might beef up inspections through its maritime customs, which will affect bilateral trade between the two sides for about several months," added Mr Lee.
WORLD SHIPPING
07 February 2016 - 21:09
North Korea-China trade shrinks 15pc, first double-digit decline since 2000
BILATERAL trade between North Korea and China declined by 14.8 per cent from January to November 2015 compared to the same period a year ago, to US$4.9 billion, according to a report by the Korea Development Institute (KDI) in South Korea.
WORLD SHIPPING
07 February 2016 - 21:09
North Korea-China trade shrinks 15pc, first double-digit decline since 2000
This news 4269 hits received.
These news may also interest you