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February 18, 2020

Individual trades exceed K18 bln at border gates in Oct-Jan

Trade conducted by Individual Trading Card (ITC) holders at the border gates crossed K18 billion between October and January in the 2019-2020 financial year, according to data released by the Ministry of Commerce.
The Trade Department issued 32 cards in October-January, and card holders conducted trade worth K18.8 billion. While imports exceeded K17 billion, exports were valued at just K1.78 billion.
The Myawady gate recorded the highest trade by value at K11.3 billion in the current FY, according to the Commerce Ministry. But, the figure only reflects imports as individual trading card holders did not export goods through the gate.
The value of trade conducted by individual card holders stood at K1.5 billion at Tamu, over K6.1 million at Muse, K143.86 million at Tachilek, K22.96 million at Lwejel, K319.7 million at Kanpiketee, K695.5 million at Kawthoung, K405.5 million at Reed, K3.53 billion at Mawtaung, K2.086 billion at Hteekhee, and K127.7 million at Kengtung, as per data from the Commerce Ministry.
Individual trades topped K737 million in the period from 21 November, 2012 to 31 March, 2013; exceeded K6.6 billion in the 2013-2014FY; crossed 9.3 billion in the 2014-2015FY; stood at over K6.4 billion in the 2015-2016FY; rose above K18.5 billion in the 2016-2017FY; touched K45.9 billion in the 2017-2018FY; K22.5 billion during the mini-budget period (April-September, 2018); and K9.38 billion in the 2018-2019FY.
The trade department has issued 1,719 cards so far with the aim of boosting trade. Businessmen can trade goods worth K3 million per day using ITCs, and the Trade Department has permitted trade of up to K15 million over five days. —Ko Htet (Translated by Ei Myat Mon)

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