September 22, 2017

US$2.2 billion trade deficit in 1st quarter this year

The trade deficit as of 18 August in the current fiscal year was US$2.2 billion, where import value outnumbered export value, according to the ministry of commerce.
The trade value from 1st April to 18 August of this fiscal year amounted to over US$11.8 billion, with an export value of US$4.8 billion and an import value of US$7 billion.
Exports through sea trade performed better than that of last fiscal year, with an increase of over US$513 million. Meanwhile, exports via border trade showed a decrease of over US$172 million compared to the same period of last year.
Out of 16 border trade camps, seven border gates — Muse, Chinshwehaw, Keng Tung, Myawady, Myeik, Htee Khee and Tamu were found to have declining export value.
The trade deficit in the last fiscal year was US$1.3 billion, with export values of US$447 million and import values of US$581 million.
There were trade deficits of US$91.9 million in 2012-2013, US$2.6 billion in 2013-2014, US$4.9 billion in 2014-2015 and US$5.4 billion in 2015-2016, according to the statistics by the Central Statistical Organization (CSO).
Myanmar exports agricultural products, animal products, minerals, forest products, and finished industrial goods, whereas capital goods, raw industrial materials and personal goods are imported into the country.
Zwe

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