The results reveal that North Korea actively reoriented its trade priorities towards Russia and accorded precedence to its epidemic prevention system over its economy during the pandemic. A noticeable increase in imports of food and pharmaceuticals was observed, indicating a significant rise in the inflo...
South Korea's central bank estimated foreign currency in circulation at $1 billion in 2000. Dong reckoned $2 billion in foreign cash was now sloshing around the economy. Around half was in U.S. dollars, 40 percent in yuan and 10 percent in euros, he told Reuters. Dollars seeped into the...
The textile ban is significant. Textiles are North Korea's main source of export revenue after coal, iron, seafood and other minerals that have already been severely restricted by previous U.N. resolutions. North Korean textile exports in 2016 totaled $752.5 million, accounting for about one-fou...
North KoreaImport-led growthExport-led growthCausality testWe investigate causal relationships among exports, imports, and economic growth in North Korea using time series data for the period between 1964 and 2008. The empirical results show Granger causality from imports to GNP in the first half ...
The ban on coal imports from North Korea, for example, may well have boosted certain industries, as this blog has covered in the past. Because exports have dwindled drastically, the price at which North Korean coal can sell – domestically as well as internationally – gets much, much lower...
The merging of trade companies also suggests that the state is establishing a system by which the government can control all imports and exports, as well as profits from trade, amid urgent efforts to revert to North Korea’s past system of state-controlled trade. ...
Learn more about North Korea, including information about its people, government, climate, history, and economy.
North Korea is increasing oil supplies to naval units as the nation imports massive amounts of petroleum from China and Russia.
Exports slipped 14.8 percent to $2.7 billion, and imports shed 20 percent to $3.56 billion. The North is under heavy U.N.-led economic sanctions for its nuclear and missile activities. Since no accurate economic data from North Korea are available, the BOK said the statistics are based on ...
As of 1991, North Korea's exports to the Soviet Union decreased by 83.7% as compared to last year's levels. Considering the slight decrease in the Soviet Union's total amount of worldwide imports from 1.71% to 1.38%, North Korea's market share in the Soviet Union can be seen as to ...