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October 21, 2018

Trade with Bangladesh significantly increases by $46 million this FY

MYANMAR-Bangladesh border trade exceeded US$50 million in the present fiscal year, notably increasing by over $46 million from this time last year, when bilateral border trade was $4.5 million only, according to the Ministry of Commerce’s trade report.
From 1 April through 20 July this year, Myanmar exported domestic commodities valued at $6.2 million to the South Asian country and imported goods worth $44.8 million.
Myanmar’s exports to Bangladesh normally surpasses its imports in bilateral border trade. However, this year saw a significant increase in border imports from Bangladesh by $44.7 million.
Commodities are delivered principally through by sea. The border trade between the two countries conduct through Sittway and Maungtaw border points of entry. During the same period, trade from the Sittway gate was over $48 million, including $3.25 million in exports and $44.8 million in imports, while trade from the Maungtaw gate totalled $2.987 million, and no goods were imported from this gate.
Marketable items at the Myanmar-Bangladesh cross-borders cover 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, beverages and human hair.
The total border trade with the South Asian country was $28.8 million in the 2017-2018 FY.
According to the Ministry’s annual statistical report, the bilateral trade from both border and non-border routes was $84.8 million in 2011-2012 FY; $43.3 million in 2012-2013 FY; $75 million in 2013-2014 FY; $39 million in 2014-2015 FY; $33.4 million in 2015-2016 FY; $43.9 million in 2016-2017 FY and $163.2 million in 2017-2018 FY.—Khine Khant

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