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

February 19, 2020

Border trade value hit $9.5 bln in current fiscal year

Myanmar mainly exports agricultural products to its neighbouring countries.  Photo: Thant Zin (Muse)
Myanmar mainly exports agricultural products to its neighbouring countries.  Photo: Thant Zin (Muse)

The value of border trade, this fiscal year, from 1 October, 2018 to 6 September, 2019 reached US$9.5 billion, recording an increase of $1.03 billion when compared to the same period last year, according to the statistical report of the Ministry of Commerce.
The total border trade value included $6.62 billion in exports and $2.85 billion in imports. This time last year, border trade was valued at $8.43 billion.
Myanmar is trading with her neighboring countries, including China, India, Bangladesh and Thailand. Sino-Myanmar border trade is carried out through the Muse, Lweje, Kanpiketee, Chin
Shwe Haw and Kengtung gates, while Myanmar is conducting border trade with India via the Tamu and Reed gates. The country’s border trade gates with Bangladesh are Sittway and Maungtaw. Gates for Thailand are in Tachilek, Myawady, Kawthaung, Myeik, HteeKhee, Mawtaung and Maese.
Among all 17 border trade camps, the Muse border gate sees the largest volume and value of all border trade. But, the income earned by Muse border gate declined this year to $ 4.6 billion, from $5.8 billion compared to last year because of clashes in northern Shan State, causing large losses to Myanmar producers and exporters.
Myanmar mainly exports agricultural products, animal products, as well as forest products, minerals, fishery products, manufactured goods and other products, while capital goods, raw industrial materials and consumer products are imported into the country. Currently, some 80 per cent of the country’s external trade is carried out via sea routes. — Zwe (Translated by Hay Mar)


Related posts