3 minutes agoStates with which North Korea does business but can be affected by American sanctions (Photo)
Periskopi(9 years ago)
(9 years ago)US President Donald Trump has suggested that his country could stop trade with any country that “does business” with North Korea. But what countries actually trade with the angry Communist state? The United States is considering stopping all trade with any country doing business with Korea and [...]
The United States is considering stopping all trade with any country doing business with North Korea”, President Donald Trump wrote on his Twitter Sunday.
Under global trade conditions, North Korea is not a major player.
According to 2015 figures by the CIA World Factbook, it ranks among the 100 countries that are abroad, both in terms of export and import.
However, with the countries he trades with are big players among the largest, in fact, “Deutsche Welle”, Periscopi broadcast.
China, the world's largest export economy, shares a 1420km border (882 miles) with North Korea and is the largest trading partner in the Communist state.
According to a 2015 extensive study by the Massachusetts Institute of Technology Economics Observatory, China makes up 83 percent of North Korean exports and 85 percent of its imports.
If the U.S. were to discontinue all trade with China, there would be monumentic implications for international trade and global economy.
India is North Korea's second largest trading partner, accounting for 3.1 per cent of imports and 3.5 per cent of exports.
India as the world's most populated country is the largest trade partner in the United States, so a trade break between the US and India will have major implications.
Asian neighbors in North Korea make up most of the remaining business partners.
As for exports, Pakistan (1.5 per cent) and Saudi Arabia (0.89 per cent) lead a long group of smaller export destinations, while African countries such as Burkina Faso (1.2 per cent) and Zambia (0.49 per cent) also trade with North Korea.
In terms of imports outside of China and India, North Korea accepts goods from Russia (2.3 per cent), Thailand (2.1 per cent), the Philippines (1.5 per cent), and Mexico (1.3 per cent) ahead of a large number of others.
In 2015, Germany imported $3.4m ($9 million) of goods from North Korea, Ferroalois (an iron type), wire rope, and X-ray equipment, respectively, and exported $7.4m of goods to the country, mostly packed with medicine./Periscopi/
The United States is considering, in administration to other options, stopping all tradition with any country doing business with North Korea.
Donald J. Trump (@realDonaldTrump) Seember 3, 2017
