More exports and fewer imports between N.K. and Port of Inchon

The total North Korean export amounts through the Port of Inchon jumped while imports plummeted, said the Inchon Customs Service.

According to the Inchon Customs Service August 9, trade with North Korea through the Port of Inchon totaled 84,750,000 dollars during the period of January to July, a decrease by around 14 percent from 96,450,000 dollars a year ago.

Exports to North Korea for the period grew 34% to 53,530,000 dollars from 39,950,000 dollars; however, imports from North Korea fell 44% to 31,220,000 dollars from 56,500,000 dollars.

These low amounts are accounted for by cargoes far below expectations, strict permission procedures, and returned trade licenses.

Export increases were due to jumps of 12% and 31% on leather and chemical products, respectively.