January 16, 2018

External trade income rose by $3.99 billion this FY

Trade via the sea route brought in $18.1 billion. Photo: Phoe Khwar

Myanmar’s external trade with foreign countries between 1 April and 29 December in the current fiscal year (FY) reached US$24 billion, up by $3.99 billion compared with the same period last year.
This includes an estimated $10.4 billion in exports and $13.6 billion in imports, resulting in a trade deficit of $3.99 billion.
Agro products, animal products, fisheries, forest products, minerals and finished industrial goods, among other things, are shipped to foreign countries. The export earnings, as of 29 December, increased by $1.9 billion this FY.
Capital goods such as auto parts, vehicles, machines, steel and airplane parts are imported. The private sector showed an income decrease of $147 million against last FY, whereas the public sector saw an increase of $271 million.
Intermediate goods make up most of the imports, with petroleum products and plastic raw materials being the main import items. The import value of raw materials is up by $1.4 billion against last FY.
Consumer products such as pharmaceuticals, cosmetics and palm oil are also flowing into the market, showing an increase of $511 million against last FY.
Trade via the sea route brought in $18.1 billion, whereas border trade earned $5.8 billion, according to statistics from the Commerce Ministry.

 

 

Htet Myat

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