Ever Wondered What America Imports From North Korea?
America’s relationship with North Korea has been a complex and ever-evolving phenomenon. Regarding the import-export trade between the two countries, what does America actually import from North Korea? This article will investigate the available data on this subject, and provide insights in the form of expert perspectives and analysis.
Types of Goods Imported from North Korea
Surprisingly, statistics from the US Department of Commerce show that the US imports a large number of goods from North Korea. The items primarily consist of seafood, such as fish and shellfish, as well as other marine-related products, including crustaceans, aquatic plants, bonito, sea urchins and octopus. The US also imports other agricultural products, such as ginseng, honey and other edible plant products. Industry experts believe that the US seafood imports from North Korea are likely to increase, as they are generally of a higher quality and standard than those sourced from other countries.
North Korea Constraints on US Exports
Despite the importance of imported products from North Korea to the US economy, the US is extremely limited by what it is able to export to North Korea due to the current economic sanctions. Imports from North Korea to the US have been mainly for essential daily necessities and diplomatic materials, reflecting the current political stand-off between the two countries. The only exports from the US to North Korea are heavily regulated humanitarian aid, which is related to the communist nation’s poor economic situation.
Impact of the Imports on US Economy
The US imports of goods from North Korea to the US have had only a minor impact on the US economy. For example, the US only imported $152 thousand worth of goods from North Korea in 2020, which is a mere 0.2 percent of the total US imports for that year. The amount spent on these imports was miniscule in comparison to other countries, such as China ($379 billion) and Mexico ($258 billion). Furthermore, some industry experts believe these imports may even help to relieve tension between the two countries in the future.
Trade Embargo on North Korea
The US does maintain a strict trade embargo on North Korea, in order to restrict their access to certain materials and goods deemed to be dangerous. This embargo also prevents North Korea from exporting goods to the US that are deemed to help support their nuclear and ballistic missile programs. For example, the US has placed restrictions on exports of goods such as chemicals, metals, technologies and various other raw materials used in the production of nuclear weapons.
Diplomatic Relationship Between the US and North Korea
With the current diplomatic relationship between the US and North Korea being extremely poor, the US can expect few imports from the country in the future. This is due to the difficulty of trading goods and materials under the current economic sanctions placed on North Korea. This, coupled with the US trade embargo, has resulted in the US receiving very few goods from North Korea over the past few years.
Nuclear Deal Between the US and North Korea
The US and North Korea recently signed a historic nuclear deal, in which North Korea agreed to dismantle its nuclear arms program in exchange for diplomatic and economic concessions from the US. This deal has been considered to be a major breakthrough in the stalled relationship between the two countries. It is still to be seen how this potential relationship-warming will affect US imports from North Korea, but many industry analysts believe that the trade embargo on the country is likely to remain in place for the foreseeable future.
Pros and Cons of US Imports from North Korea
The pros of US imports from North Korea, other than the increased quality in some of the products, include the potential easing of tensions between the two countries and the opening of new sources of sales to the US. However, some of the cons of importing from North Korea include the very limited range of products available and the threat that those products pose to US national security.
Conclusion of the US Imports from North Korea
Overall, it appears that the US imports from North Korea have only had a minor impact on the US economy. While some quality products may be found, the overwhelming majority of imports are for humanitarian and diplomatic purposes. Going forward, it is unknown what effect the recent nuclear deal between the two countries will have on US imports from North Korea, but for now, the trade embargo looks set to remain in place.
