China-North Korea trade up 14.3 per cent in first half to US$1.25 billion
- Observers say leaders’ meeting in June signalled trade was getting back on track, and warmer ties between allies may strengthen Beijing’s hand in talks with US
China’s trade with North Korea recovered in the first half of this year after a sharp fall in 2018, Beijing said on Tuesday.
The announcement comes as ties between the countries improve, with Chinese President Xi Jinping making his first state visit to Pyongyang last month.
Total trade with North Korea reached US$1.25 billion between January and June, up 14.3 per cent compared to the same period a year earlier, Ministry of Commerce figures showed.
Exports to North Korea amounted to US$1.14 billion – a rise of 15.5 per cent – while imports rose 3.2 per cent to US$110 million.
China remains North Korea’s sole military ally and biggest trading partner. Trade in 2018 was worth US$2.7 billion, down 48.2 per cent year on year, the Seoul-funded Korea Trade-Investment Promotion Agency said last week.
North Korea’s trade with China fell sharply in 2018, taking its overall foreign trade to less than US$3 billion for the first time since North Korean leader Kim Jong-un took power in 2011.