The North Korean Economy Under Sanctions

In response to North Korea’s nuclear and missile tests, new rounds of UN sanctions have banned an estimated 90 percent of North Korea’s exports. Recent data on North Korean exports suggests that the sanctions have begun to have a real impact with exports to China falling to just $54 million in December. As the new sanctions increasingly take hold, how will the North Korean economy manage? What can we expect the regime to do in the months ahead as sanctions reduce the economy’s access to resources? How can the U.S. encourage states in the region to maintain pressure, while also not provoking Pyongyang?

In response to North Korea’s nuclear and missile tests, new rounds of UN sanctions have banned an estimated 90 percent of North Korea’s exports. Recent data on North Korean exports suggests that the sanctions have begun to have a real impact with exports to China falling to just $54 million in December. As the new sanctions increasingly take hold, how will the North Korean economy manage? What can we expect the regime to do in the months ahead as sanctions reduce the economy’s access to resources? How can the U.S. encourage states in the region to maintain pressure, while also not provoking Pyongyang?

Please join KEI for a discussion of these and other questions on how sanctions will likely impact the North Korean economy in the months ahead and the policy options for the United States, South Korea, and China.

Please join KEI for a discussion of these and other questions on how sanctions will likely impact the North Korean economy in the months ahead and the policy options for the United States, South Korea, and China.