North Korea-China trade hits 9-year high in first half, reaching $1.5 billion

Bilateral trade between North Korea and China surged to $1.5 billion in the first half of this year, marking the highest level recorded since 2017. Data analyzed from China's General Administration of Customs by Voice of America (VOA) reveals a 19.6% increase from the $1.26 billion recorded in the first half of last year.

This trade volume reverses a sharp decline seen after 2017, when it reached $2.55 billion. Trade fell to $1.1 billion in 2018 and plummeted further during the COVID-19 pandemic and international sanctions, hitting a low of $65.27 million in 2021. The recent recovery is attributed to improving North Korea-China relations.

In the first half of 2024, North Korea imported $1.18 billion worth of goods from China, a 12.7% increase from the previous year and the largest import volume since 2017. Exports to China also rose by approximately 54% to $324.08 million. However, this trade surge has also led to a widening trade deficit for North Korea, which reached about $850 million in the first half of the year.