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May 29, 2020

Export to Hong Kong outperforms import from April to July

Workers of a factory that exports fishery products to foreign countries. Photo: Phoe Khwar

Myanmar’s export to Hong Kong, the Special Administrative Region of the Republic of China, surpassed its import, with export worth US$177 million and import valued only $5.7 million from April to July of mini-budget period, according to data of the Ministry of Commerce.
The value of trade between Myanmar and Hong Kong was worth US$183 million. Myanmar’s major items exported to Hong Kong includes precious stones, agricultural products, fishery products and garments, while its import comprises mainly telecommunications equipment and optical goods. The economic interactions between Myanmar and Hong Kong have been increasing rapidly. Hong Kong has emerged as the third largest investor in Myanmar, following the first and second largest investors—Singapore and Myanmar. Since 1988, Hong Kong has brought foreign direct investments of $7.75 billion with 148 enterprises as of August 2018, according to the Directorate of Investment and Company Administration.
Bilateral trades were worth $385.63 million in the 2017-2018 fiscal year, $234.46 million in the 2016-2017 FY, $316 million in the 2015-2016 FY, $343.8 million in the 2014-2015 FY, $502.7 million in the 2013-2014 FY, $27.28 million in the 2012-2013 FY and $51 million in the 2011-2012 FY, respectively.

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