Trade between North Korea and China has shown a continued upward trend this year.
According to data released by China’s General Administration of Customs, bilateral trade between North Korea and China from January to May reached 8.71 billion CNY (approximately 1.29 billion USD), representing a 17.6% increase compared to the same period last year.
During this timeframe, Chinese exports to North Korea amounted to 6.72 billion CNY (approximately 992.72 million USD), while imports from North Korea totaled 1.99 billion CNY (approximately 293.97 million USD). The growth rate for exports stood at 8.8%, while imports saw a significant surge of 62.5%.
Analysts attribute this expansion in trade volume to the improving relations between North Korea and China. In March, the two nations resumed passenger train services connecting Pyongyang and Beijing. Additionally, Air China reinstated flights from Beijing to Pyongyang.
In a notable development earlier this month, Chinese President Xi Jinping made his first state visit to North Korea in seven years, last having visited in 2019.
However, it’s worth noting that the trade growth rate has slightly moderated compared to the previous month. The General Administration of Customs reported that the cumulative trade growth rate between North Korea and China for the January-April period was 19.7%.