China’s exports to North Korea drop 16.4% in March
- On a month-on-month basis, exports rose 24.2% in March to $170.6 million
BEIJING: China’s exports to North Korea fell 16.4% in March from a year earlier after surging 58.5% in February, data from the General Administration of Customs showed on Monday.
On a month-on-month basis, exports rose 24.2% in March to $170.6 million, according to a Reuters calculation of the data.
Top Chinese shipments to its isolated neighbour by value included soybean oil, processed human hair, wool used to make wigs and whole frozen duck.
China’s trade with North Korea grew 22% from a year earlier in the first two months of the year.
Ties between Beijing and Pyongyang have warmed in recent months since North Korean leader Kim Jong Un’s trip to Beijing in September.
China is by far North Korea’s largest trading partner and is a vital source of diplomatic and economic support for the sanctions-hit state.
Chinese Foreign Minister Wang Yi travelled to Pyongyang earlier this month and pledged to further improve bilateral ties.‑Reuters