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KOTRA: NK Has Posted Trade Deficit for 2 Decades

Written: 2010-05-24 14:03:25Updated: 2010-05-24 15:23:48

KOTRA: NK Has Posted Trade Deficit for 2 Decades

A new report shows North Korea has not posted a trade surplus in the last 20 years.

The Korea Trade-Investment Promotion Agency (KOTRA) released a report Monday that shows the North has been in the red each year since 1990, when it posted a trade deficit of 704 million U.S. dollars.

KOTRA based its report on annual statistics gathered from some 70 countries regarding trade with the communist state.

Last year, the North’s volume of trade, excluding inter-Korean trade, stood at three-point-four billion dollars. Trade with China accounted for more than 78 percent of the North’s total trade volume followed by trade with Germany, Russia, India and Singapore.

The North’s trade dependency on China was also found to have risen every year since 2003.

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