Daily Management Review

North Korea’s foreign trade volume grows 122.3% in 2022


In comparison to 2021, the DPRK's international trade volume increased by 122.3 percent to $15.9 billion in 2022, shows a study on North Korean foreign trade released on Thursday by the Korea Trade Promotion Corporation (KOTRA).

Uri Tours
Uri Tours
"The improvement in COVID-19 as well as the resumption of trade between North Korea and China in 2022 led to a 94.0 percent increase in North Korea's exports (to $1.6 billion) and a 126.0 percent increase in imports (to $14.3 billion)," the research stated.

Minerals made up the majority of exports (41.3%, or $65.71 billion), followed by steel and metal goods (19.3%). Additionally, minerals made up the largest portion of the country's imports, amounting to 36.5%, or $5.2 billion, followed by plastic and rubber goods (12.7%).

While imports rose by 124.3% to $14 billion, exports to China surged by 130.0% to $1.3 billion. As a result, according to KOTRA, North Korea's dependence on China climbed by 96.7% year over year in 2022, maintaining the record high of 95.8% in 2018.

source: koreatimes.co.kr