Mongolian-North Korean trade at record high in 2017

Oyundelger 2018-01-08 07:01

Economy

Trade between the two countries reached a record high past year due to a surge in the North's tobacco imports.

Mongolian-North Korean trade is at record high in 2017. Trade between the two countries reached a record high past year due to a surge in the North's tobacco imports. According to the figure released by the Korea Trade-Investment Promotion Agency (KOTRA), trade between the two countries jumped by 43 percent on-year. The growth is largely due to the increase in Mongolia's exports to the North, up to 55 percent from a year ago and imports increased by some 2 percent to during the same period. On the list of export items from Mongolia to North Korea, tobacco ranked first and medicine was found to be Mongolia's biggest import item from the North and took up 78 percent of the total as of November 2017.