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May 29, 2020

Myanmar-Italy trade exceeds $100 million, up by $33 million

EU has progressively re-engaged with Myanmar since 2011, including in its trade and investment relations. Photo: Phoe Khwar

BILATERAL trade between Myanmar and Italy, a member of the European Union, totalled US$102 million within the past four months, increasing by $33 million from this time last year, according to a monthly report of the Ministry of Commerce. Between April and July this year, exports between the two countries were valued at $77.7 million, whereas import value reached $24.7 million. Compared with the same period last year, bilateral exports this year increased by half; however, the bilateral imports slightly decreased by $6.8 million. In the last 2017-2018 financial year, trade between the two countries amounted to $217 million, compared with $136.774 million in the 2016-2017 FY, $73 million in the 2015-2016 FY, $113 million in the 2014-2015 FY, $124 million in the 2013-2014 FY, $27 million in the 2012-2013 FY and $23 million in the 2011-2012 FY. Since 2011, the EU has progressively re-engaged with Myanmar, including in its trade and investment relations. Usually, the European countries import garments, coffee seeds, tea leaves, some agricultural and aquaculture products from Myanmar. Its export covers machinery, transport equipment, chemicals, food and beverages and cosmetics, among other products.

 

Khine Khant

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