All Report

<Inside N. Korea>Market Price Since Imposition of New Economic Sanction

A market in Chongjin City. September 2013 (ASIAPRESS)

 

2017/Jan/17

On 30 November last year, the United Nation Security Council (UNSC) approved new economic sanctions on North Korea.  In 2017, the sanctions intend to slash North Korea’s exports of coal with an annual sales cap of $400.9 million, or 7.5 million metric tons (62 percent less than 2015), whichever is lower.  Furthermore, the UNSC has prohibited North Korea from exporting mineral resources such as copper, silver, zinc, nickel.  Reportedly, the Kim Jong-un regime would lose 800 million USD worth of foreign currencies per year.

Around 50 days after the approval of the sanctions, ASIAPRESS reporting partners conducted survey on market prices of white staple food, gasoline, and the exchange rate for North Korean Won to Chinese RMB.  The market price near the China-North Korea border was more or less the same with that of Pyongyang.
Related Article: <Inside N. Korea> Market survey shows “Resolution 2270”, the toughest-ever sanctions, didn’t work.

After the UNSC imposed the sanctions on North Korea, the market price of white rice has decreased by 20% while the corn price has increased by 25%.  The clear contrast between the prices of two staple foods is hard to explain for now.  The price of gasoline and diesel oil has been rising by 10-20% from the beginning of 2017, perhaps due to the surge in the international oil price.  The exchange rate for North Korean Won to Chinese RMB–drawing attention from the international society–has been stable.

The table below shows the prices of rice, corn (per kilogram), and various kind of oil (per litre) in North Korean Won.   I USD is equal to around 8,500 Won.  (Kang Ji-won/Jiro Ishimaru)

(* ASIAPRESS smuggles Chinese carrier mobile phones into North Korea that function in the border area of North Korea. Using these, our North Korean reporters and reporting partners communicate with us on the latest developments.)

Table: market price

Map: the cities where we conducted surveys

 

Related Article
[Video Report] National bus network of the North Korean market economy
<Inside N.Korea> Is Economic Sanction Really Effective? Searching Effect from Retail Price Index
N.Korean People lament, “We’ll be done if Chinese enforce the sanctions”

rimjingang_banner001Editor’s notes on North Korean reporters
ALL REPORTS >>>

ARCHIVE(pdf) >>
DPRK MAP >>

Related post

  1. Complaints from the people are getting bigger as the supply of power and running water are worsening. A woman is going back home with buckets of water from the village pump in the midlands of North Korea on January 2015. (Taken by Mindulle, Asia Press) Voice of the ordinary N.Koreans:…
  2. Some better-off people perform their tasks by hiring someone for the mobilized labor on behalf of them. It seems that the man in the picture was hired for replacing blocks of sidewalk. Seosung District in Pyongyang on August 2011. Taken by Koo Gwang-ho/ ASIAPRESS <Photo Report> People are exploi…
  3. Jang's execution by firing squad was carried out immediately after the tribunal. (PHOTO: Rodong Sinmun;13/Dec/2013) Arrest, Displacement and Suicide…
  4. The cover page of a membership card/book of the Korean Workers' Party. (August. 1997. Taken by ISHIMARU Jiro) ASIAPRESS Korean Workers’ Party Impo…
  5. [Video Report] The hidden homele…
  6. Soldiers of units posted at the West-South Front facing South Korea. Careful observation of the young soldiers in the picture confirms that most appear frail. (Source. Rodong Sinmun. Aug/2012) Korean People’s Army Exten…
  7. Column –Voices from inside N.Kor…
  8. Continuous Shipwrecks of N.Korea…

Pickup

Chongjin, North Hamkyung Province. September, 2013  ASIAPRESS N.Korea Market Survey Reveals Basic Food Price Hike PHOTO1 N.Korea IT Report – PART1: Kids Master Emoticons and Movies with Mobile phones A bottle of domestic "penicillin", made at the Suncheon medical factory. ASIAPRESS Embezzled UN Aid Circulates in N.Korean Underground – End to Free Healthcare, Illegal Abortions Widespread A political assembly held by a KWP regional branch that took place a half year before the purge of Jang Song-thaek. The ranking officials discussed and addressed the people's allegiance and dedications to Kim Jong-un. (Summer/2013/ASIAPRESS) Possible Firing Squad Executions Punish Violators of “Kim Jong-un’s Instructions” This picture is taken from raw video footage captured in Sosong District, Pyongyang in the summer of 2006. Female students are assembled near the Three Revolution Exhibition museum to practice for a military parade in honor of Kim Jong-il's birthday. Each student is wearing a white shoulder-cloth inscribed with a consecutive number. (Lee Jun / Pyongyang / August 2006) ASIAPRESS The Truth Behind N.Korea’s Military Parades 〈Photo Report- 6 (a)〉 The Government’s Command is for a “Strong and Prosperous Nation” — but Workers Tired Out at Pyongyang Construction Sites to Build 100,000 Apartments

Korean   Japanese

 

Rimjingang_facebook Rimjingang_twitter Rimjingang_YouTube

Rimjin-gang English Edition for iPad App

New Report

  1. [Video Report] Why Do N.Korean Women Care About Looks? “I want to get attention from the guys.”
  2. <Inside North Korea> Russian Oil at Market in North Korea
  3. [Video Report] Kim Jong-nam assassinated. What do North Koreans think about it?
  4. <Inside North Korea> Defense Drill For Cruise Missile Attack: Soldiers Suffer From Malnutrition, Tuberculosis and Chaos
  5. <Inside North Korea> North Korean Military Reinforces Protection Wall of Gallery, Feared by Trump’s Attack on Syria
  6. <Inside North Korea> Real Evaluation On Kim Jong-un By His Own People
  7. <Inside North Korea> Total War Is Impossible for North Korean Army
PAGE TOP