North Korea–Bangladesh Five-Year (2019–2023) Exchange Time-Series Analysis
This is a comprehensive time-series analysis of exchanges between North Korea and Bangladesh over the five-year period from 2019 to 2023. It tracks multidimensional trends in trade, diplomatic contacts, people-to-people exchange, and international organization touchpoints to identify patterns of change in the bilateral relationship. This period was shaped by several overlapping external variables: tightening UN sanctions, the COVID-19 pandemic, Bangladesh's foreign exchange crisis, and political instability.
The five-year cumulative trade volume was just $5.2M (approximately 7.2 billion KRW), an annual average of only $1.04M. Since trade collapsed 80% following North Korea's total border closure in 2020, it has not yet fully recovered to 2019 levels. Diplomatic contacts have also remained limited to perfunctory exchanges on the sidelines of the UN General Assembly, with virtually no substantive cooperation agenda.
Trade Time-Series Analysis
The five-year bilateral trade pattern divides clearly into before and after the COVID-19 lockdown. Trade had been maintained above $2M annually through 2019, but plummeted to $0.45M following North Korea's total border closure in 2020. A partial recovery occurred in 2021, but the overlapping effects of Bangladesh's foreign exchange crisis (2022) and political instability (2023) have prevented a full return to pre-COVID levels.
| Year | Bangladesh → DPRK | DPRK → Bangladesh | Total | YoY Change | Key Variable |
|---|---|---|---|---|---|
| 2019 | $1,850K | $350K | $2,200K | -8% | UN sanctions continuing; formal relationship |
| 2020 | $380K | $70K | $450K | -80% | COVID-19: North Korea total border closure |
| 2021 | $1,080K | $120K | $1,200K | +167% | Partial reopening; recovery begins |
| 2022 | $920K | $80K | $1,000K | -17% | Bangladesh foreign exchange crisis impact |
| 2023 | $780K | $60K | $840K | -16% | Political instability; Hasina government weakening |
Trade Composition Analysis
Bangladesh's primary exports to North Korea are finished garment and textile products and pharmaceuticals. North Korea's exports to Bangladesh are mainly small machinery and steel sub-materials, but items subject to UN Security Council Resolutions 1718, 2094, 2321, and others must be continuously monitored. Actual trade data is based on Bangladesh National Board of Revenue (NBR) records; informal transactions routed through third countries are excluded from this tally, meaning actual volumes may be higher.
| Direction | Key Products | Share | UN Sanctions Applicable | Notes |
|---|---|---|---|---|
| Bangladesh → DPRK | Garments and finished textiles | 45% | Not applicable | Bangladesh's primary export goods |
| Bangladesh → DPRK | Pharmaceuticals and medical supplies | 30% | Not applicable | Permitted for humanitarian purposes |
| Bangladesh → DPRK | Food and agricultural products | 15% | Not applicable | Humanitarian exemption applies |
| Bangladesh → DPRK | Other consumer goods | 10% | Review required | May require UN approval |
| DPRK → Bangladesh | Small machinery | 55% | Partially applicable | Caution: dual-use items |
| DPRK → Bangladesh | Steel and metal sub-materials | 35% | Potentially applicable | Review under Resolution 2371 |
| DPRK → Bangladesh | Chemical substances | 10% | Review required | Confirm applicability under Resolution 2270 |
Diplomatic Contact Trends by Year
People-to-People Exchange and International Organization Touchpoints
UN Sanctions Compliance Status
Bangladesh takes the legal position of complying with UN Security Council resolutions on North Korea sanctions, but limitations in enforcement capacity mean that some transactions routed through third countries fall in monitoring blind spots. The opacity of import payment channels increased particularly during the 2022–2023 foreign exchange crisis period, a point noted in UN Panel of Experts reports.