Sanctions fail as N. Korea’s trade hits record high with backing from China, Russia

Special to WorldTribune.com

By Lee Jong-HeonEast-Asia-Intel.com

North Korea’s trade volume reached a record high in 2013 in a clear demonstration that U.S-led international sanctions have not succeeded.

North Korean trucks carrying iron ore at the Chinese border. /Chosun Ilbo
North Korean trucks carrying iron ore at the Chinese border. /Chosun Ilbo

Thanks to traditional partners China and Russia, the North’s overall trade volume came to $7.35 billion last year, up 7.8 percent from $6.81 billion in 2012, according to a report by South Korea’s government trade agency.

The country’s exports jumped 11.7 percent to $3.22 billion, with imports growing 5 percent to $4.13 billion, resulting in a deficit of $910 million, according to the Korean Trade and Investment Promotion Agency (KOTRA) report.

“The North’s annual trade volume in 2013 was the highest amount since KOTRA began compiling such data in 1990,” the report said.

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