CHINA-NORTH KOREA: TRADE

 RFA  on October 21, 2016, quoted sources as saying that China's offshore trade with North Korea is not recorded in Chinese customs data. It said trade between China and North Korea officially amounted to US$5.5 billion last year, but an intelligence source said the illicit trade is estimated at another $2.2 billion. Choe Kyong-hee at Hanyang University, a North Korean defector, said, "China may appear to be strengthening sanctions against trade with North Korea, as seen in the crackdown on Hongxiang Industrial Development Co., but illicit trade between the two countries will continue." Meanwhile, North Korea has apparently increased exports of fisheries products to China and Russia in spite of the sanctions. Voice of America (VOA) on October 19, 2016, cited Chinese customs data that put North Korea's exports of fisheries products to China in the first eight months of this year at around $110 million, up 70 percent on-year. Unlike coal and iron ore, there have been no moves by the international community to sanction North Korea's exports of fisheries products. 

 






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