| Publication |
2011.
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| Summary/Abstract |
China is North Korea's largest international trading partner. Since 2000, fuels and
minerals have become a larger portion of North Korean exports and a smaller
portion of imports. North Korea remains a net importer of Chinese crude oil and
oil products; however, it became a net exporter of electricity and coal to China in
2003. Aside from coal, imports and exports of metallic minerals and mining
equipment are growing segments of China-North Korea trade. Whereas North
Korean electricity and iron ore exports are sold at sub-market "friendship prices"
Chinese coal and oil products have been sold to North Korea at premium prices.
Chinese Customs data suggest that Beijing is taking a pragmatic, market-oriented
approach to trade with its reclusive neighbor, while the increasingly asymmetrical
energy embodiment of bilateral trade may reflect deterioration of North Korea's
non-military industries.
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