Chinese-N.Korean Trade Plummeted By Over 52% In 2018 - Chinese Customs

Trade between China and North Korea more than halved last year compared to 2017, plummeting to just $2.3 billion, Li Kuiwen, the spokesman for the Chinese General Administration of Customs, said on Monday.

BEIJING (UrduPoint News / Sputnik - 14th January, 2019) Trade between China and North Korea more than halved last year compared to 2017, plummeting to just $2.3 billion, Li Kuiwen, the spokesman for the Chinese General Administration of Customs, said on Monday.

"As for trade between China and the DPRK [Democratic People's Republic of Korea � North Korea's official name], we can give you the following information: in 2018, trade between the PRC [People's Republic of China] and North Korea amounted to 16.09 billion Yuan [$2.3 billion], which is 52.4 percent less than in 2017," Li told a briefing.

According to the official, China's exports to North Korea slumped by 33.3 percent to 14.67 billion yuan, while the country's imports of North Korean goods plunged 88 percent and amounted to just 1.

42 billion yuan.

"When carrying out trade activities with the DPRK, the Chinese customs fully, responsibly, strictly and diligently observes the relevant UNSC [United Nations Security Council] resolutions," the spokesman added.

In compliance with a relevant resolution of the UN Security Council, China had banned exports of iron, steel and industrial equipment to North Korea, also curbing its supplies of oil and petroleum products to Pyongyang. Imports of certain grains and other kinds of agricultural goods from North Korea have been halted as well.

China has also almost completely severed its business contacts with North Korean companies and prohibited Chinese employers from hiring North Korea nationals.