North Korea's Exports to China Increase Compared to Pre-COVID-19 Levels

August Exports Up 66% Compared to 2019
Attributed to Increased Exports of Wigs and Artificial Eyebrows

North Korea's exports to China increased by 66% compared to 2019 last month. According to data released by the General Administration of Customs of China on the 18th, trade between North Korea and China in August amounted to $191.13 million (approximately 253 billion KRW), a 5.2% increase compared to the previous month.

This figure represents an 11.6% increase compared to the same period last year, when COVID-19 spread and strict quarantine controls were in place in China. Compared to the same month in 2019, before the COVID-19 outbreak, it decreased by 19.1%.

North Korea's imports in August were $162.9 million, increasing by 4.1% and 127.7% compared to the previous month and the same month last year, respectively. Compared to 2019, this is a 25.8% decrease.

On the other hand, exports amounted to $28.23 million, increasing by 12.7% and 50.3% compared to the previous month and the same month last year, respectively. Compared to the same period in 2019, it increased by 66.4%.

[Image source=Yonhap News]

Due to United Nations (UN) sanctions, North Korea is unable to export underground resources such as coal and agricultural and fishery products. As a result, it has significantly increased exports of wigs and artificial eyebrows to China. These items, which had no meaningful exports until the first half of last year, saw exports to China rise sharply from $1.826 million in October last year to $8.9 million in December of the same year.

The cumulative export value of these items in the first half of this year was $76.36516 million, accounting for 56.5% of North Korea's total exports to China of $135 million in the first half of this year.

As of August this year, the cumulative trade volume between North Korea and China reached $1.4262 billion, a 189% increase compared to the same period last year. This is 83.3% of the 2019 level. North Korea's imports amounted to $1.23844 billion, a 21.2% decrease compared to 2019. Meanwhile, exports were $187.75 million, a 33% increase compared to 2019.