November 18, 2016

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Maritime trade value declines while border trade value increases

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

The value of trade through normal trade as of 11th November in this fiscal year declined by over US$328.406 million, while value of trade through border area increased by US$ 390.421million, according to the statistics provided by the Commerce Ministry.
The value of exports as of 11th November in the current fiscal year was US$4,234.941million through sea trade and US$2,763.047 from border trade, while those in the similar period of last fiscal year were US$3928.9 million via normal trade and US$2,516.629 via border trade.
According to the Second Five-Year National Plan, imported items are scrutinised to reduce the deficit in trade, excluding essential import items. Therefore, the import through sea trade as of 11th November in this fiscal year slumped by US$634.447million, which is down from US$ 8,050.11million in the previous fiscal year. Meanwhile, imports through border trade increased by US$1,44.003 million, which is up from US$1,547.582million in the pervious fiscal year.
Out of seven export groups, minerals and finished industrial goods export earnings declined. However, other export groups are on the rise. The export of agricultural products as of 11thNovember topped in the list, fetching US$1,671.038million. The exports of agricultural products, livestock, fishery products, forest products, minerals, industrial finished goods and other products as of 11th November amounted to US$6,997.988million which is up from US$6,445.529million in the similar period of last year.
The values of export through the Muse, Keng Tung and Sittwe border camps declined while those through other border trade camps rose. However, the Muse border trade camp is seen to have the highest trade value of 3,105.175million, whereas the Mawtaung and Sittwe border trade camps earned the lowest, according to statistics from the Commerce Ministry. There are 15 border trade camps in Myanmar: Muse, Lweje, Chin Shwe Haw, Kan Pike Tee, Keng Tung, Tachilek, Myawady, Kawthaung, Myeik, Htee Khee, Maw Taung, Sittwe, Maung Taw, Tamu and Reed.

 

Ko Htet

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