It comes as little surprise that China is North Korea’s biggest trading partner, but what other countries are they trading with?
According to The Observatory of Economic Complexity, a leading data visualisation site for international trade data, India ($97.8m), Pakistan ($43.1m) and Burkina Faso ($32.8m) are the top export destinations of North Korea after China ($2.34b).
Likewise, most imports come from China ($2.95b) but other main partners are India ($108m), Russia ($78.2m), Thailand ($73.8m) and the Philippines ($53.2m).
With $3.47 billion worth of import value, the communist country is the 141st largest importer in the world.
Refined petroleum ($186m), synthetic filament yarn woven fabric ($138m) and delivery trucks ($108m) are the top products imported into North Korea.
North Korea’s main export products include coal briquettes ($952m) and textiles (non-knit coats & suits).
Australia enforces both United Nations Security Council (UNSC) as well as autonomously imposed sanctions that restricts a range of activities with North Korea and with North Korean individuals and entities.
Austrade advises Australian exporters considering trading with North Korea to familiarise themselves with the operation of these sanctions.
They also recommend obtaining independent legal advice before making commercial decisions involving trade or commercial transactions with North Korea.
For more information about UNSC sanctions implemented by Australia in relation to North Korea, visit sanctions regimes Democratic People's Republic of Korea (North Korea) on the Department of Foreign Affairs and Trade (DFAT) website.