New data shows inter-Korean trade has dropped more than 30 percent since Seoul placed a ban on trade with North Korea in late May for Pyongyang’s sinking of the “Cheonan” naval ship.

The Korea Customs Service said Friday that trade volume between the two Koreas stood at 123 million dollars in June, including some 57 million in exports to the North and 66 million in imports. June’s trade volume was down 32 percent from April, with exports seeing a decline of 27 percent and imports 36-and-a-half percent.

In particular, imports from the communist state were found to have slid sharply compared to exports, which likely dealt a significant blow to Pyongyang’s efforts to secure foreign currency.

An official at the customs agency said that if the situation at the Gaeseong Industrial Complex in the North remains the same, inter-Korean trade is expected to remain at similar levels to that of June.