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May 29, 2020

Myanmar’s exports to US outdo imports in April, May

Containers seen at the Asia World Terminal in Yangon. Photo: Zaw Gyi Panita

Myanmar’s exports to the United States surpassed imports in the first two months of the six-month interim period (April to September) prior to the 2018-2019 fiscal year.
Myanmar’s trade with the United States was worth US$172.5 million, with exports worth $112 million and imports worth $60.4 million, according to statistics provided by the commerce ministry.
Rice, various types of pulses, forestry products, fish, prawns, apparel, garments produced on cut-make-pack system, and other finished industrial goods were shipped to the United States. Meanwhile, Myanmar mainly imported personal goods, capital goods and industrial raw materials from the United
States.
Under (former US president) Barack Obama’s government, the US reinstated Myanmar’s eligibility for a generalised system of preferences benefits, after the imposition of economic sanctions against Myanmar for more than two decades.
A delegation led by Mr. McKinney, Undersecretary of the United States Department of Agriculture (USDA), met with officials from the commerce ministry on 20
July and discussed bilateral trade promotion and investments.
Myanmar’s bilateral trade with the United States was worth $718.3 million for the 2017-2018 FY, $690.6 million for the 2016-2017 FY, $196.9 million for the 2015-2016 FY, $544.6 million for the 2014-2015 FY, $104 million for the 2013-2014 FY, 122.7 million for the 2012-2013 FY and $293 million for the 2011-2012 FY.

 

Ko Htet

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