Bangladesh-Myanmar bilateral trade up by $284.9mln in this FY

TRADE between Myanmar and Bangladesh from October to as of 20 March this year has exceeded US$300.04 million, a significant increase of nearly $284.9 million from the same period last year, according to the monthly data issued by the Ministry of Commerce.


As of 20 March, the country’s exports to Bangladesh totalled $21.327 million, while its imports were $278.71 million. Compared with the same period last year, the value of exports between the two countries rose by $11.46 million, while imports increased significantly by $278.45 million. For the same period last year, the total trade between the two countries was valued at $10.12 million, with $ 9.86 million in exports and $0.26 million in imports.


Myanmar exports goods to Bangladesh through both maritime and land routes. Bilateral border trade is conducted mainly through the Sittway and Maungtaw points of entry.


The products traded between the two countries include bamboo, ginger, peanuts, saltwater prawns and fish, dried plums, garlic, rice, mung beans, blankets, candy, plum jams, footwear, frozen foods, chemicals, leather, jute products, tobacco, plastics, wood, knitwear, and beverages.


According to the ministry’s annual statistical data, the total border trade with Bangladesh was over $23.2 million in the 2018-2019FY. The bilateral border trade was $3.83 million in 2012-2013FY, $22.8 million in 2013-2014FY, $14.3 million in 2014-2015FY, $11.5 million in 2015-2016FY, $10.6 million in 2016-2017FY, $29 million in 2017-2018FY and $263 million in 2018 mini-budget respectively, stated the ministry’s annual report. — Zwe


(Translated by Hay Mar)