You can read daily news of Global New Light of Myanmar using mobile applications. Download now!

May 26, 2019

Myanmar-Bangladesh border trade decreases 8.8% in seven months

Workers loading bags of ginger onto ship at Maungtaw border trade camp. Photo  : Htet Htet
Workers loading bags of ginger onto ship at Maungtaw border trade camp. Photo : Htet Htet

Bilateral border trade stood at over US$19 million as of 26 April in the current 2018-2019 Fiscal year which saw a slight decrease of $1.87 million or 8.8 per cent, from the corresponding period last year, according to the Ministry of Commerce’s trade report.
At this time last FY, Myanmar-Bangladesh trade through border gates was pegged at $21.29 million, with exports worth $20.27 million and imports amounting to $1.02 million.
When compared with last FY, this FY saw a decrease in value of exports by $7.87 million, however, the bilateral imports rose by nearly $6 million. Between 1 October and 26 April, Myanmar exported $12.4 million worth of domestic products to Bangladesh and imported goods valued at over $7 million from the South Asian country.
Normally, Myanmar’s exports to Bangladesh surplus its imports in bilateral border trade.
In bilateral border trade, goods are delivered mainly through two border gates—Sittway and Maungtaw.
In nearly seven months, trade via the Sittway gate totalled $14.38 million, with $7.4 million in exports and $6.97 million in imports, while trade from the Maungtaw gate exceeded $5 million, including $0.04 million in imports.
Marketable goods at the Myanmar-Bangladesh borders contain bamboos, ginger, peanuts, saltwater prawns and fish, dried plums, garlic, rice, mung beans, blankets, candy, plum jams, footwear, frozen foods, chemicals, leather, jute products, tobacco, plastics, wood, knitwear and beverages.
According to the ministry’s annual statistical data, the total border trade with Bangladesh was over $29 million in the 2017-2018 FY. According to the annual statistical report of the ministry, the bilateral borders trade was $3.83 million in 2012-2013 FY, $22.8 million in 2013-2014 FY, $14.3 million in 2014-2015 FY, $11.5 million in 2015-2016 FY, $1.6 million in 2016-2017 FY.—Swe Nyein (Translated by Khaing Thanda Lwin)

Comments

Related posts