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August 08, 2018

India-Myanmar border trade increases by over $27 million

BORDER trade between Myanmar and India, in the current financial year, topped nearly US$47.6 million, an increase in value by $27.8 million over this time last year, according to a report from the Ministry of Commerce.
During the same period last year, India-Myanmar bilateral trade was $19.728 million, in total.
Myanmar’s exports to the Republic of India are greater than its imports.
Having the world’s second largest population, India imported a wide variety of marketable products, worth $42.069 million, from Myanmar over the first 104 days of this fiscal year. Its exports to Myanmar were valued at $5.521 million during the period.
The two countries use the Tamu and Reed border trade camps to deliver goods commercially. During the period, the bilateral trade value through the Tamu gate totalled $37.138 million, whereas the Reed station handled goods amounting to $10.452 million.
From 1 April through 13 July this year, the trade value from all borders reached $2.3 billion, increasing by $298 million from this time last year.
A wide variety of goods, covering human hair, medicines, oil cakes, electronic devices, motorbikes, cotton yarn, non-alloy steel, areca nuts, ginger, saffron, turmeric, bay leaves and other herbal plants, fruits and vegetables are marketable at borders.—Chan Nyein

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