News North Korea-Russia trade plummeted by nearly 42% in 2020 — the year of COVID-19New data suggests that trade between Pyongyang and Moscow suffered greater blows than previously thought The value of total trade between North Korea and Russia dropped nearly 42% year-over-year between 2019 and 2020, according to data from Russia’s Federal Customs Service (FCS). For more than a year now, North Korea has enforced a COVID-19-related border lockdown that put a halt to most international travel and also has caused serious reductions to trade. Excluding humanitarian aid, the total value of Russian exports to North Korea fell by roughly 40% from 2019 to 2020, while the total value of imports fell by about 76%. These numbers indicate a much steeper decline in trade between Pyongyang and Moscow © Korea Risk Group. All rights reserved. |