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Inter-Korean trade up 104% to $20 billion yearly

Staff writer |
According to the Korea International Trade Association, the trade between South and North Korea increased 104 percent to $2.34312 billion last year, breaking the $2 billion mark for the first time.

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With the Kaesong Industrial Complex regaining vitality, the shipments from the South to the North and vice versa went up by 114 percent and 96 percent to $1.13638 billion and $1.20674 billion, respectively.

The cumulative amount since the tracking of the statistics began in 1989 reached $21.78934 billion. The annual trade amount has remained over $1 billion since 2005, when the industrial complex went into full-scale operation. It added up to $1.97621 billion in 2012, but dropped to $1.14891 billion in the following year because of diplomatic tension.

At present, the Kaesong Industrial Complex accounts for 99 percent of the bilateral trade, with inter-Korean exchange by any other route halted since the sinking of the Cheonan and the May 24 Sanctions on the North.

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