Myanmar’s external trade reached $11b over past five months

THE external trade value over the past five months reached over US$11 billion but it has decreased by $229.838 million compared with the same period last year, according to figures issued by the Ministry of Commerce.

The total value of external trade between 1 April and 2 September this fiscal year amounts to US$11.268 billion, including $4.8 billion from the export sector and $6.4 billion from the import sector.

Myanmar has a trade deficit of nearly $1.6 billion so far this year.

The country mainly imports industrial raw materials, personal goods, construction equipment, automobiles and capital goods from China, Thailand, Japan, India, Indonesia, Germany, France and Hong Kong.

Resource-based products including natural gas, fish products, forest products and agricultural products have been sent by the country mainly to neighbouring ,countries.

Efforts are being made to promote the country’s export sector by shipping new valued- added products from the manufacturing sector over the next five years, according to the second five-year National Development Plan between 2016-2017 and 2020-2021 fiscal years.

The trade department expects that the trade value of Myanmar with partner countries is likely to reach around US$31 billion over the 2016-2017 fiscal year.

Source: Global New Light of Myanmar

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