The latest U.N sanctions are expected to have a crippling effect on North Korea’s economy.
In November, according to business data China’s trade with North Korea edged up to $388 million, its lowest levels this year. Tough U.N. sanctions are continuing to dampen China’s business with its isolated neighbor and ally.
Despite being low, China’s business with North Korea rose by 15.9% from October’s $334.89 million, according to data released by China’s General Administration of Customs.
Beijing’s trade with Pyongyang has been slowing since the imposition of U.N sanctions, which came into force on September 5.
North Korea is banned from selling, coal, seafood, lead and iron ore abroad.
According to the data, China has purchased goods worth $100.18 million from North Korea in November, up from $90.75 million in October.
North Korea’s exports came to $287.84 million in November, up from $244.2 million in October.
Although the trade between the two countries have slowed down this year, especially after the banning of coal, in February. The pace of the drop increased in recent months with the latest U.N sanctions which prohibit Pyongyang’s ability to sell critical commodities to its chief trading partner and ally.
On Friday, the U.N. Security Council imposed new sanctions on North Korea for its November 29 ICBM test aimed at limiting its access to refined petroleum products and crude oil as well as its earnings from workers abroad.
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