Tuesday, May 09, 2006

Bilateral Trade: Trade between North Korea and China, reaches record high

A South Korean trade agency has said that trade between North Korea and China, rose to a record last year as the North becomes increasingly dependent on its No. 1 trade partner for food and energy.

The volume of trade between the two countries rose 14 percent in 2005 from the year before to a record $1.58 billion, according to South Korea's state-run Korea Trade-Investment Promotion Agency, or KOTRA.

In a relapse issued by the agency, figures show two-thirds of that trade was made up of North Korean imports from China, which grew 35.2 percent year-on-year to $1.08 billion, much of it food and energy. Trade with China accounted for more than half of North Korea's total exports and imports last year.