China's June trade with North Korea down by half

Posted on Thursday, July 12th, 2018 By The Associated Press

BEIJING (AP) — China's customs agency says its imports from North Korea plunged 92.6 percent in June compared with a year ago under U.N. sanctions imposed to stop its nuclear and missile programs.

The customs agency said Friday exports of Chinese oil and other goods to the North fell 40.6 percent to 6.4 billion yuan ($960 million). Imports were 690 million yuan ($103 million).

The U.N. Security Council has steadily tightened trade sanctions as leader Kim Jong Un's government pressed ahead with nuclear and missile development in defiance of foreign pressure.

China accounts for nearly all of the isolated North's trade and energy supplies. Beijing has imposed limits on oil exports and banned purchases of North Korean textiles, seafood, minerals and other exports.

Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.

Yahoo Gemini Pixel