Border trade between Myanmar and India reached US$24.46 million in the current interim fiscal year, increasing by $11.87 million compared with the same period last year, according to the statistical report released by the Ministry of Commerce this Friday.
Over the first 62 days of this FY, Myanmar exported $21.25 million worth of commodities to India, whereas the value of imports from India reached $3.212 million.
The two countries conducted border trade mainly through the Tamu and Reed cross-border trade camps. A major part of bilateral imports and exports are delivered through ships.
India largely exports medicines, oil cakes, electronic products, motorbikes, cotton yarn, non-alloy steel and other construction materials to Myanmar. Its imports from Myanmar include areca nuts, ginger, saffron, turmeric, bay leaves and other fruits and vegetables, besides human hair, fishery and forest products.
Myanmar’s border trade with China, India, Thailand and Bangladesh through all land borders totalled $1.274 billion, including $789.33 million in exports and $485.03 million in imports. According to the Directorate of Investment and Company Administration (DICA), India’s investment in Myanmar at the end of the 2017-2018 FY was $10.993 million through three investment projects.