North Korea-China Trade Increases by 29% Compared to March... Impact of COVID-19 Continues

Residents of Pyongyang, North Korea, are walking in front of Pyongyang Station wearing masks on the 27th to prevent the spread of the novel coronavirus (COVID-19).
[Image source=Yonhap News]

[Asia Economy Reporter Seungjin Lee] The trade volume between North Korea and China, which had fallen to an all-time low due to the impact of the novel coronavirus infection (COVID-19), rebounded last month.

According to the announcement on the 23rd by China's customs authority, the General Administration of Customs, the trade volume of goods between North Korea and China last month was $24.003 million (approximately 29.77 billion KRW), a 28.7% increase from $18.647 million (approximately 23.13 billion KRW) recorded in March.

Imports from China amounted to $21.797 million (approximately 27.03 billion KRW), up 20.8% from $18.031 million (approximately 22.36 billion KRW) in March.

Exports to China were $2.206 million (approximately 2.73 billion KRW), a significant increase of 258.1% compared to $616,000 (approximately 760 million KRW) in March.

According to the Voice of America (VOA) broadcast, March marked the first time since statistics were published that North Korea's exports to China fell below $1 million.

However, since the trade volume between North Korea and China in March was at an all-time low, the growth rate of trade in April was high, but it was only one-tenth compared to $241.46 million (approximately 299.53 billion KRW) in April last year.

North Korea proactively closed its borders and strictly controlled the entry and exit of foreigners, including Chinese nationals, from the end of January when COVID-19 was spreading in China.

This content was produced with the assistance of AI translation services.