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May 31, 2020

Myanmar-East Asia trade totals $6.9 billion in first half of this FY

Labourer sorting at fish cold storage factory.  Photo: MNA

EXTERNAL trade between Myanmar and East Asian countries over the first half of this fiscal year totalled US$6.99 billion, according to a monthly report of the Commerce Ministry.
From April to September, the import of commodities from East Asian states was $3.87 billion, while export value reached $3.11 billion in total.
China was ranked first on the list of the top three East Asian traders with $5.52 billion, including $2.51 billion from normal trade and $3.01 billion from border trade, followed by Japan with $925 million and South Korea with $402 million.
Bilateral trade with Taiwan stood at over $86 million, while trade with Hong Kong was valued at $52 million. However, trade with North Korea was less than $1 million. Myanmar usually exports a wide variety of agricultural products, dried and fresh marine products, minerals and industrial finished goods. The major imported products cover consumer goods, electronic devices, capital goods, automobile and accessories, and intermediate goods. Trade with East Asian countries was $6.603 billion in FY2011-12 and $7.150 billion in FY2012-13. The figures exceeded $10 billion in FY2013-14. It continued to increase to $13.2 billion in FY2014-15, $13.8 billion in FY2015-16 and $13.9 billion in FY2016-17.

 

Shwe Khine

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