NK-EU trade falls for 3rd consecutive year in 2016: report

Published : Feb 28, 2017 - 10:00 Updated : Feb 28, 2017 - 10:00

North Korea's trade with the European Union shrank for the third consecutive year in 2016 amid international sanctions against the North, a US media outlet said Tuesday.

European flags fly in front of construction in the European district in Brussels on Feb. 18, 2016, in this photo released by Europe's news photo agency EPA. (Yonhap)

The 2016 trade volume was tallied at about $29 million, marking a 6.6 percent decrease from a year ago and one tenth of the peak figure recorded in 2006, Voice of America reported, citing the European Commission, the executive body of the 28-member bloc.

The fall was attributed to international sanctions imposed over its nuclear and missile tests, coupled with the global economic slowdown.

According to VOA, chemicals goods topped the list of North Korea's imports from the EU at about $8.4 million, up 24 percent from the previous year. Machinery came next at about $4.2 million, down 31 percent from a year earlier. (Yonhap)