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N. Korea deepens trade dependence on China

All Headlines 15:22 September 25, 2011

SEOUL, Sept. 25 (Yonhap) -- North Korea's trade dependence on China deepened over the past four years, in contrast to a reduction in South Korea's share in the North's external trade, Seoul's Unification Ministry said in a report Sunday.

The proportion of China in North Korea's foreign trade is on the rise, increasing from 41.6 percent in 2007 to 49.5 percent in 2008, 52.7 percent in 2009 and 57.1 percent last year, the report said.

By contrast, South Korea saw its share of the North's trade declining from 38.0 percent in 2007 to 33.0 percent in 2009 to 31.4 percent last year, it noted.

In terms of trade volume, too, bilateral trade between North Korea and China jumped from US$1.97 billion in 2007 to $2.68 billion in 2009 and $3.47 billion in 2010, the report said, adding the inter-Korean trade volume slightly increased from $1.8 billion in 2007 to $1.91 billion last year.

Inter-Korean relations tumbled to their lowest point in decades, after Seoul imposed sanctions on North Korea last year for an island shelling and the March sinking of a South Korean warship, which together killed a total of 50 South Koreans.


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