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May 28, 2020

Public sector imports of consumer goods drop by half

IMPORTS of consumer products by the public sector in three and a half months of the current fiscal year dropped by half against the same period last year, the Ministry of Commerce reported.
Between April and mid-July this year, the government’s import of consumer goods was US$13.610 million, which saw a decrease by $13.829 million from this time last year, when the sector’s imports reached $27.439 million. Despite the decrease in consumer goods by the public sector, private sector imports of the same products exceeded $1.2 billion, an increase in value by $61.651 million over the same period last year. Myanmar imports three major groups of products, including capital goods, intermediate goods and consumer goods from foreign trade partners.
The ministry’s latest statistical report shows that the country’s total imports of the three groups of products was valued at $5.641 billion, consisting of capital goods worth $2.022 billion, intermediate goods $2.315 billion and consumer goods $1.302 billion. When compared with the same time last year, the total import figures went up by $427 million.—Swe Nyein

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