October 21, 2017

Border trade hits over $4.8b this fiscal year

Trucks line up near Muse 105-Mile Trade Zone in northern Shan State.

MYANMAR’S border trade value counted up until 9 December this fiscal year reached over US$4.8 billion, an increase of over $160 million compared with the same time last year, according to the Ministry of Commerce.
Between 1 April and 9 December of this year, the trade value totalled $4.865 billion. Border trade exports amounted to $2.933 billion while the total imports reached $1.871 billion.
This period last year, border trade was worth $4.704 billion, including $2.922 billion from the export sector and $1.781 billion from the import sector.
The border trade camps with China include Muse, Lweje, Kanpikete, Chinshwehaw and Kengtung. The country has carried out border trade with neighbouring Thailand through the Tachilek, Myawady, Kawthaung, Myeik, Hteekhee and Mawtaung border gates. The cross-border trade camps between Myanmar and Bangladesh are Sittwe and Maungtaw, while the country trades directly with India via the Tamu and Reed border gates.
Among all border gates, the Muse border has the highest volume and value of total border trade.
Myanmar mostly imports personal goods, industrial raw materials, construction equipment, automobiles and capital goods mainly from China, Japan, India, Indonesia, Germany, France and Hong Kong. It exports agriculture products, fisheries products, mining products, forest products and industrial goods.
According to the second five-year National Development Plan for the period between fiscal years 2016-2017 and 2020-2021, efforts are being made by the ministry to promote the country’s export sector by shipping new valued-added products from the manufacturing sector within the next five years.
Roughly 80 % of Myanmar’s total external trade is through sea routes.

 

Khine Khant

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