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May 25, 2020

Myanmar-Germany bilateral trade exceeds $290 mln in 2019-2020FY Q1

Trade value between Myanmar and Germany during the first quarter of the current fiscal year 2019-2020 has reached US$298.87 million, stated the Ministry of Commerce.
The statistics released by the Ministry of Commerce indicated that Myanmar’s export to Germany surpassed its import, with $226.985 million worth of export and $71.89 million valued import.
Beyond regional trade regime, Myanmar has established trade links with the EU members. Germany is the biggest trade partner in the European Union, followed by France and the UK.
The main export items are rice, pulses, tea leaf, coffee, garments on Cut-Make-Pack (CMP) basis and fisheries. Meanwhile, machinery, data-processing equipment, electrical and optical goods, chemical products, motor vehicles and spare parts and pharmaceutical products, cosmetic, food and beverages and consumer goods are imported into Myanmar.
Myanmar has reinstated EU’s Generalized Scheme of Preference starting from 19 July 2013. Myanmar can enjoy GSP for export of fisheries, rice, pulses, agro-products, bamboo and rattan finished products, forestry products, apparels and finished industrial goods. Nevertheless, the EU imposed a three-year tariff on India rice (long-grain rice) imported from Myanmar and Cambodia starting from 18 January 2019.
Trade value with Germany was registered at $821.5 million in the last FY2018-2019, $373 million in the past mini-budget period (April-September 2018), $584 million in 2017-2018FY, $342 million in 2016-2017FY and $153 million in FY2015-16 respectively.—GNLM (Translated by Ei Myat Mon)

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