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April 07, 2020

Import value increases by $2 billion nearly this FY

Myanmar’s imports between 1 April and 26 January this fiscal year (FY) amounted to US$15.1 billion, up by $2 billion as compared with the same period last FY.
The government sector imported goods worth $841 million, whereas the private sector imported goods worth $14.2 billion.
Of the three import groups, raw industrial goods is mostly imported into the country with an estimated value of more than $6.07 billion, an increase of $1.41 billion against last FY, according to the Commerce Ministry. The import of goods categorised in the two other groups — consumer goods and capital goods — also showed an increase in their trade value. The import of capital goods hit $5.4 billion, while the import of consumer goods reached $3.65 billion.
Chemicals, fertilisers, rubber raw materials, industrial paper products, cement, rail machines and associated equipment, vehicles and auto parts, ships and ship machinery, tractors, mobile phones and telecommunication equipment, computers and electronic devices, construction tools, and wire appliances are imported into Myanmar through the border points and the sea route.
In the same period, the export value was $11.4 billion. There is a trade deficit of $3.7 billion as imports outdid exports.

 

Htet Myat

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