Inter-Korean Trade Volume in the First Half of 08 Increased by 23% Year-on-Year
Inter-Korean trade volume in the first half of 2008 stood at 880.7 million dollars, up 23% year-on-year from 718.1 million dollars.
Gaeseong Industrial Complex(GIC)-related trade such as carrying in products and transfer of factory equipment increased by 88% to 365.5 million dollars and processing-on-commission trade of clothes or TV, etc rose by 42% to 171 million dollars
- Office of Inter-Korean Exchanges & Cooperation in Gaeseong held a business consultation session from June 5 to 20 on processing-on-commission trade of clothes for fall and winter of 2008 and had consultations about an estimated 6.92 million pieces of clothes worth 13.24 million dollars.
The major factor behind the increase in inter-Korean trade is the growth of commercial trade, which accounts for 94% of inter-Korea trade. Commercial trade grew 47% year-on-year from 558.7 million dollars to 823.6 million dollars.
Despite recent developments in inter-Korean relations, the total volume of private-level economic cooperation is expected to continuously expand during the second half of 08 thanks to the increase in processing-on-commission trade and GIC production activities
Spokesperson
