Border trade tops US$3billion, a rise from previous fiscal year

Border trade as of 14th October in this fiscal year 2016-2017 reached over US$3billion, which is higher compared to the similar period of the last fiscal year, it is learnt from the Ministry of Commerce.

Border trade value from 1st April to 14th October in this fiscal year fetched US$3,790.3million, which is up from US$3,451.254million in the similar period of the last fiscal year 2015-2016. The value of trade increased US$339.046million in this fiscal year.

Myanmar exports agricultural products, animal products, minerals, forest products and manufacturing goods while consumer goods, intermediate goods and capital goods are imported into Myanmar. The Myanmar export sector is dependent on natural gas, teak, agriculture and fisheries products. The Muse border camp has the highest volume and value of trade with US$ 2,626.434million as of 14th October in this fiscal year. However, the figure slumped by US$3.347million when compared to the similar period of last fiscal year, according to the Commerce Ministry.

There are a total of fifteen border trade camps in Myanmar: Muse, Lweje, Chin Shwe Haw, Kan Pike Tee, Keng Tung, Tachilek, Myawady, Kawthaung, Myeik, Htee Khee, Maw Taung, Sittwe, Maung Taw, Tamu and Reed. Myanmar has entered into agreements with the neighboring countries_ India, Thailand, China and Bangladesh to trade through border trade camps.

Source: Global New Light of Myanmar

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