| Won | Pyongyang | Sinuiju | Hyesan |
|---|---|---|---|
| Exchange Rate | 8,130 | 8,110 | 8,125 |
| Rice Price | 5,770 | 5,740 | 5,800 |
North Koreas trade volume with China last year dropped by 2.79 percent, recording roughly 6.36 billion USD, down from 6.54 billion USD the previous year, according to a report by Korea Trade-Investment Promotion Agency [KOTRA]. Coal was one of the areas in which the North saw a slump in exports; conversely, it saw an increase in textiles
North Koreas exports to China recorded 2.84 billion USD, a 2.48 percent dip, while imports also dropped by 3.04 percent to 3.52 billion USD.
However, the Norths trade deficit with China stood at roughly 681 million USD, a 5.32 percent decrease from the previous year.
This marks the first time in six years the Norths trade volume with China has seen a decline, following an upward trend for several years, according to KOTRAs report.
Natural resource exports, which previously made up for 71.4 percent of overall exports as of 2011, dropped to 56.9 percent last year.
One of North Koreas main exports, coal, plunged by 17.69 percent last year, dropping from 47.46 percent to 39.97 percent of overall exports. On the other hand, textile exports jumped to 26.6 percent of all exports from 17.1 percent in 2011.
The increase in textile exports is likely connected to the expansion of processing trade that utilizes North Korean labor by Chinese companies, according to KOTRA. The trade agency also reported that North Koreas trade sector, previously heavily reliant on natural resource exports, appears to be undergoing changes due to decreasing unit prices and a drop in demand.
Notably, Chinas crude oil exports to North Korea recorded nil all of last year, according to the report, but petroleum exports jumped by 48.22 percent.
*Translated by Jiyeon Lee










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