February 24, 2014 09:55
North Korea's trade dependence on China has increased as trade with South Korea fell even further last year.
Cross-border trade reached just US$ 1.15 billion in 2013, down about 42 percent on-year, while North Korea's trade with China rose 10.4 percent to $6.54 billion, according to the Korea International Trade Association on Sunday.
Inter-Korean trade fell to 18 percent of the North's trade with China, the lowest since 2005.
Sung Baek-woong of KITA attributed the dip to the halt of operations at the Kaesong Industrial Complex, which more or less all that remains of inter-Korean trade after sanctions imposed in 2010.
He said the North's trade dependence on China has deepened because that is where the North turned to sell textile products.
South Korea's imports of textile goods and electric and electronic products from the North fell 45 percent and 43 percent, while the North's imports of mineral and textile products from China increased 15 percent and 33 percent.
- Copyright © Chosunilbo & Chosun.com