A new report shows inter-Korean trade in the first half of the year amounted to 980 million dollars, up 51 percent year-on-year.
Data from the Korea International Trade Organization’s Institute for International Trade shows South Korean exports to North Korea increased 63 percent year-on-year to 430 million dollars. Thirty-six percent of the export total was comprised of raw material shipments for manufacturing textiles and 28 percent was made up of electronic products.
South Korea’s first-half imports from North Korea, meanwhile, increased 43 percent to 550 million dollars from the same period last year. Of the imports, 44 percent were finished textile goods including apparel, while electronic products accounted for 17 percent of the total.
The institute said, however, that if Seoul continues to restrict inter-Korean trade, economic cooperation between North Korea and China would increase, which would reduce the South Korean trade with North Korea.