BILATERAL trade between Myanmar and the US reached almost US$330 million in the first 10 months of this fiscal year, according to figures released by the Ministry of Commerce.
According to official statistics, Myanmar-US trade amounted to $329.874 million between April of last year and January of this year. Of the total, Myanmar’s export to the U.S. hit about $147 million and its imports from the US reached nearly $183 million.
Myanmar exports marine products, clothing, beans and pulses, forestry products and some agriculture products to the American market. Imports from the US include medicine and related equipment, industrial products, transportation products, dairy products, and other commodities. The total value of trade between the two countries was $196.902 million in 2015-2016 FY. Bilateral trade reached a record $544.640 million in 2014-2015 FY. The trade of both countries was $104.440 million in 2013-2014 FY, $122.791 million in 2012-2013 FY and $293.071 million in 2011-2012 FY.
Myanmar became a beneficiary of the U.S. Generalized System of Preference (GSP) programme on 13November, 2016.
According to the Myanmar Investment Commission, the US’s foreign direct investment through existing enterprises in Myanmar as of this February was $4.651 million in total.