Trade between China, N.Korea drops in 2017

Source:Global Times Published: 2018/1/12 19:58:40

Bilateral trade between China and North Korea in 2017 was 10 percent lower than the previous year, after China had strictly implemented UN Security Council's resolutions on North Korea following several nuclear and missile tests conducted by Pyongyang.

Total trade volume between the two countries dropped to $5.06 billion, a 10.5 percent decline from a year ago, with China's imports from North Korea dropping to $1.72 billion in 2017, a 33 percent slide from the previous year, Huang Songping, spokesman of the General Administration of Customs (GAC), said at a Friday press conference.

In December 2017, China's trade with North Korea dropped to $310 million, half the amount of the previous year, while import volume dropped to $54 million, an 81.6 percent decrease from the same period in 2016, Huang said.

In 2017, GAC and China's Ministry of Commerce issued several bans on the import and export of North Korean goods following UN Security Council resolutions.

In early 2018, the two authorities also said they would implement UN Security Council Resolution 2397 by implementing a complete export ban of iron, steel and other metals, as well as industrial machinery and transport vehicles to Pyongyang.



Posted in: ASIA-PACIFIC,ECONOMY

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