The U.N. Security Council’s tougher economic sanctions against North Korea is expected to deal a serious blow to North Korea’s economy as they include a ban on the North’s major export items like coal and iron ore.
According to a report released by South Korea’s Trade-Investment Promotion Agency on Thursday, North Korea’s external trade amounted to $7.6 billion in 2014 but its deficit widened to $1.29 billion, a 41 percent increase from a year earlier.
North Korea’s major export goods included mineral fuels resources, textiles and steel.
The report also showed that North Korea is heavily dependent on China for external trade.
(Graphic: Nam Kyung-don)