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September 22, 2019

International trade hit US$16.9 billion since April

Women workers process fish at a seafood export factory in Hlaingthaya Industrial Zone in Yangon.  Photo: Reuters

External trade between 1 April and 13 October in the current fiscal year amounted to US$16.9 billion, a significant increase of $2.9 billion than that in similar period of last FY.
During that period, Myanmar had a trade deficit of $2.28 billion, as imports surpassed exports. In the same period of the last FY, there was a trade deficit of only $1.94 billion.
Exports fetched $7.3 billion and the import value was estimated at $9.6 billion. The country’s agro products, livestock, forestry products, minerals, fishery products and finished industrial goods are exported to foreign trade partners.
Capital goods such as machinery, construction tools including steel, materials used in telecommunication, vehicles and auto parts, raw industrial materials including petroleum products, plastic raw materials, fertilizers, chemicals, etc and pharmaceuticals, the largest consumer item, are imported into the country.
There was a sharp decline of $151 million in border trade. Nevertheless, trade through sea routes increased by $3 billion.
Myanmar conducts border trade with neighbouring countries via 16 border trade gates. Trading with China is through the Muse, Lweje, Kanpikete, Chinshwehaw and Kengtung checkpoints, while its border trade with Thailand flows in and out of the Tachilek, Myawady, Kawthoung, Myeik, Htee Khee, Maese and Mawtaung border gates. Cross-border trade camps between Myanmar and Bangladesh are Sittway and Maungtaw. The country conducts border trade with India via the Tamu and Reed border gates.

 

Ko Khant

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