WHAT DOES NORTH KOREA TRADE WITH THE WORLD?
The US slapped North Korea with new sanctions on September 26th. These sanctions follow an executive order and two United Nations sanctions packages.
The sanctions attempt to put economic pressure on Kim Jong Un to end his regime’s nuclear ambitions.
So who is North Korea trading with?
Well, mainly China. $2.3 billion of $2.83 billion total exports were shipped to China in 2015, according to the Observatory of Economic Complexity. That’s 83% of all of North Korea’s exports. Besides China, export partners include Pakistan, India and Burkina Faso. Coal briquettes were North Korea’s largest export in 2015 (a briquette is a compressed brick of coal dust). They were followed by knit and non-knit clothing. North Korea also exported silver, wood products, and processed fish.
Following the UN sanctions, China agreed to halt some trade. Imports of textiles from North Korea were banned, and exports of petroleum products were limited.
Other import partners include India, Russia, Mexico, and Thailand.
The UN and US sanctions follow multiple nuclear tests in North Korea.
(Source: Business Insider)
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