North Korea’s Trade with China: August Sees Monthly Increase, Yearly Decline

Politics John Brightwater September 18, 2024

North Korea’s Trade with China: August Sees Monthly Increase, Yearly Decline

Summary
In August, North Korea’s trade with China increased to $177 million, up from $145 million in July. However, this is a decline from the $191 million recorded in August 2022, raising concerns about stagnation in the economic relationship between the two countries, as noted by experts.

In August, North Korea reported significant growth in its trade with China, achieving an approximate total of $177 million. This figure represents an increase from $145 million in July. Nevertheless, it is essential to note that this month’s trade value falls short of the $191 million recorded in August of the previous year, indicating an annual decline. Experts suggest that while there is an improvement in monthly trading activity, the year-on-year decrease may be indicative of a broader stagnation in the economic relationship between North Korea and China. The data were released by the General Administration of Customs of China (GAC).

The relationship between North Korea and China has historically been complex, characterized by close economic ties but occasionally strained political interactions. As China’s primary trading partner, North Korea relies heavily on Chinese support, particularly with sanctions imposed by other international actors. Observing the monthly and annual trade patterns allows analysts to gauge the fluctuating nature of this relationship and the overall economic health of North Korea. The reported figures for August reveal both a short-term growth in trade volume and a persistent long-term decline compared to previous years, prompting concerns about the sustainability of these economic relations.

In summary, while North Korea’s trade with China showed a notable increase from July to August, the annual comparison reveals a concerning decline, highlighting a potential stagnation in bilateral economic dynamics. Continued monitoring of these trends will be crucial for understanding the evolving relations between the two nations.

Original Source: www.nknews.org