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April 01, 2020

Imports up $1 bln as of 7 Feb, MOC reports

The value of Myanmar’s imports between 1 October and 7 February in the 2019-2020 financial year stood at US$7.44 billion, an increase of $1.05 billion from $6.39 billion recorded in the year-ago period, according to data released by the Ministry of Commerce.
The value of imports in the consumer, capital, intermediate goods, and CMP business groups rose significantly in the current fiscal.
Over the past four months, capital goods, such as auto parts, vehicles, machines, steel, and airplane parts were brought into the country. Capital goods made up a large share of Myanmar’s imports in the current fiscal. Their import value was estimated at $2.72 billion. The figure was $726 million higher compared to the same period in the previous FY. Meanwhile, Myanmar imported consumer products worth $1.26 billion, including pharmaceuticals, cosmetics, and palm oil. The imports of consumer products showed an increase of $68.7 million compared with the corresponding period of the 2018-2019FY.
In the current fiscal, imports of raw material goods, with petroleum products and plastic raw materials being the main import items, jumped to $2.57 billion from $2.36 billion registered in the year-ago period.
During the same period, raw materials worth $875 million were also imported for the Cut-Make-Pack (CMP) garments sector. —GNLM (Translated by EMM)

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