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Seoul (ANTARA News/Asia Pulse)  - North Korea's trade appears to have dropped for the first time in 11 years in 2009 as its trade with China, South Korea and other major business partners declined.

The Korea Development Institute said in a report on Wednesday that Pyongyang's trade with foreign countries was projected to have contracted "at least" five per cent last year compared with a year earlier, citing statistics provided by China's customs authorities.

North Korea's trade with China, its biggest business partner, amounted to US$2.68 billion last year, down four per cent from a year earlier, while its trade with South Korea dropped 8.4 per cent, the report showed. The two nations accounted for 81.7 per cent of Pyongyang's annual trade.


Source:
Business in Asia Today - March.10, 2010
published by Asia Pulse

Editor: Ricka
COPYRIGHT © 2012

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