THE value of Myanmar’s imports surpassed exports in bilateral trade with Singapore in the first seven months (October-April) of the current fiscal year, according to data from the Ministry of Commerce.
Singapore is Myanmar’s second largest trading partner in the region, after Thailand. Between October and April, Myanmar’s exports to Singapore were valued at US$315.8 million, while imports were pegged at $1.9 billion, with trade totalling $2.23 billion.
Myanmar exports agricultural products, footwear, textiles and clothing, minerals and animal products to Singapore, while it imports plastic, fuel oil, capital goods, intermediate goods, consumer products, metals, and chemicals.
Myanmar’s bilateral trade with Singapore was registered at $1.9 billion during the last mini-budget, $3.83 billion in the 2017-2018 fiscal year, and $2.96 billion in the 2016-2017FY.
Twenty Singapore-listed enterprises brought in more than $1.57 billion in investments in the October-April period, according to data released by the Directorate of Investment and Company Administration.
In addition, Singapore topped the list of countries with the largest FDIs in the Thilawa Special Economic Zone, followed by Japan and Thailand. —Mon Mon (Translated by Ei Myat Mon)
