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| ▲ This file photo, taken Sept. 27, 2022, shows a cargo train crossing a railway bridge linking North Korea and China over the Amnok River. (Yonhap) |
NK watches-China
N. Korea's exports of wristwatches to China rank 2nd after Japan in 2024: report
SEOUL, Feb. 1 (Yonhap) -- North Korea's exports of wristwatches to China ranked second in terms of volume last year after Japan, a report showed Saturday, as Pyongyang has been ramping up outbound shipments of products not subject to U.N. sanctions to earn foreign currencies.
North Korea's exports of wristwatches to China reached US$16.3 million last year, the second-largest volume among a total of 12 countries that shipped such products to Beijing, the Voice of America (VOA) reported, citing data from China's customs office.
Japan topped the list with $120 million, and Switzerland ranked No. 3 with $5.87 million, it said.
North Korea appears to have expanded exports of wristwatches to China, which are not subject to U.N. Security Council sanctions, in a bid to earn much-wanted hard currency amid economic difficulties.
The North has been under stringent U.N. sanctions that ban the country's exports of coal and other mineral resources to prevent the country from financing its nuclear and missile programs.
North Korea's exports of wristwatches to China were suspended in the midst of the COVID-19 pandemic. But the shipments quadrupled last year after logging $4.05 million in 2023 amid the North's border reopening.
The country shipped 136.9 million wristwatches to China, indicating they were exported at around 11 cents per unit.
The figure compared with $1.47 per unit for Japanese products and $3.42 per unit for Swiss wrist watches.
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