North Korea-UK trade grows 226% year-on-year in 2021

SEOUL, April 27 (Yonhap) — Trade between North Korea and the United Kingdom rose more than 200 percent year on year from last year, the British Department of International Trade showed Wednesday.

According to a DIT report on North Korea trade and investment, from October 2020 to September last year, the UK’s trade with North Korea was £49 million ($61.65 million), which is an increase of 226.7 per cent compared to 16 1 million pounds ($20.13 million) recorded during the same period the previous year.

Last year, British exports to North Korea amounted to 22 million pounds ($27.68 million), while imports from Pyongyang amounted to 27 million pounds ($33.97 million).

The report indicated that rubber products were the most imported materials from the communist regime in the United Kingdom.

Of the total exports to Pyongyang, goods made up less than 0.1 percent, with the majority, nearly 100 percent, being services, although the report did not provide details on them.

Moreover, in 2020, the UK’s foreign direct investment in North Korea reached 1 million pounds ($1.25 million), while North Korea’s foreign direct investment in the UK was less than 1 million pounds during the same period, according to the report.

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