ID :
76138
Thu, 08/20/2009 - 10:21
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Shortlink :
https://www.oananews.org//node/76138
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Trade between South and North Korea declining 11 months-customs.
TOKYO, August 19 (Itar-Tass) - The volume of trade between the North and South of Korea is declining already for the 11th month against the background of the aggravation of the situation on the peninsula - especially after the second nuclear test carried out by Pyongyang.
In
July, the trade volume between the two countries dropped to 140 million US
dollars, a 22-percent decrease as compared with the same period a year
ago, the Seoul customs service reported on Wednesday.
The South Korean news agency Yonhap reported that inter-Korean trade
declined for an 11th month in July amid heightened tensions between Seoul
and Pyongyang in the wake of the communist country's nuclear test, data
showed Wednesday. According to the data by the Korea Customs Service,
trade between South and North Korea amounted to around US$140 million in
July, down 22 percent from the same month a year earlier. This marked an
11th straight month of annual contraction since September last year.
Exports to the North totalled $64.72 million, while imports from the
country came to $75.26 million, the data showed. In particular, imports
from the North were mostly textiles and fishery products. The trade
decline is attributed mostly to strained inter-Korean relations and
heightened tensions on the Korean peninsula after the North pushed ahead
with its second nuclear test in May in defiance of warnings by the
international community, the report says.
The UN Security Council (UNSC) adopted resolutions imposing sanctions
after North Korea conducted long-range missile tests in April and its
second nuclear test in May. The resolutions call for financial sanctions
and an overall arms embargo and allow member countries to inspect North
Korean ships suspected of carrying weapons of mass destruction.
According to Yonhap, experts, however, hope that trade could rebound
in months to come as the mood is expected to improve after a recent
agreement between Hyundai Group chairwoman Hyun Jeong-eun and North Korean
leader Kim Jong-il to resume joint ventures between the two Koreas.
-0-ezh
In
July, the trade volume between the two countries dropped to 140 million US
dollars, a 22-percent decrease as compared with the same period a year
ago, the Seoul customs service reported on Wednesday.
The South Korean news agency Yonhap reported that inter-Korean trade
declined for an 11th month in July amid heightened tensions between Seoul
and Pyongyang in the wake of the communist country's nuclear test, data
showed Wednesday. According to the data by the Korea Customs Service,
trade between South and North Korea amounted to around US$140 million in
July, down 22 percent from the same month a year earlier. This marked an
11th straight month of annual contraction since September last year.
Exports to the North totalled $64.72 million, while imports from the
country came to $75.26 million, the data showed. In particular, imports
from the North were mostly textiles and fishery products. The trade
decline is attributed mostly to strained inter-Korean relations and
heightened tensions on the Korean peninsula after the North pushed ahead
with its second nuclear test in May in defiance of warnings by the
international community, the report says.
The UN Security Council (UNSC) adopted resolutions imposing sanctions
after North Korea conducted long-range missile tests in April and its
second nuclear test in May. The resolutions call for financial sanctions
and an overall arms embargo and allow member countries to inspect North
Korean ships suspected of carrying weapons of mass destruction.
According to Yonhap, experts, however, hope that trade could rebound
in months to come as the mood is expected to improve after a recent
agreement between Hyundai Group chairwoman Hyun Jeong-eun and North Korean
leader Kim Jong-il to resume joint ventures between the two Koreas.
-0-ezh
