A local think tank has projected that recently adopted United Nations Security Council(UNSC) sanctions on Pyongyang will deal a harsh blow to the North Korean economy as the regime's outbound shipments are expected to be cut by half.

The Korea International Trade Association(KITA) issued a report Tuesday on the impact of the latest UN sanctions on North Korea's exports and imports. It said that items sanctioned under UNSC Resolution 2270 account for almost 45 percent of total North Korean exports based on 2014 data.

North Korea's total exports amounted to about three-point-three billion dollars in 2014 and sanctioned items account for nearly half at one-point-five billion dollars.

The Security Council's punitive measures adopted on March third ban the trade of seven items including iron ore, coal, gold and titanium, excluding some exceptions.

In 2014, coal made up the largest portion of North Korean exports with such shipments coming to one-point-one billion dollars or 34 percent of the total.