Myanmar’s exports to Netherlands double in February

MYANMAR’S exports to the Netherlands reached US$30 million in February, nearly double the value registered in the same month last year, according to the monthly trade report released by the Ministry of Commerce.

Exports usually outperform imports in the bilateral trade between the two countries. This February, Myanmar exported goods worth over $30 million to the Netherlands, an increase of $14.7 million from February, 2018, when exports were valued at $15.5 million.

Myanmar imported goods worth $1.7 million from the Netherlands in February this year, an increase of $0.8 million from the year-ago period.

Over the first five months of the 2018-2019 fiscal year, Myanmar has earned $163 million from exports of goods to the Netherlands. Meanwhile, it has imported goods worth nearly $14 million from the European country.

Myanmar chiefly exports fruits and vegetables, marine products, and garments to Europe.

As per official data, Myanmar-Netherlands trade reached nearly $230 million during the 2018 mini-budget period (April-September).

Trade between the two countries has been on the rise since 2011. The bilateral trade between Myanmar and the Netherlands was pegged at $211.6 million in the 2017- 2018FY, $141 million in the 2016- 2017FY, $61.212 million in the 2015-2016FY, $41.973 million in the 2014-2015FY, $25.676 million in the 2013-2014FY, $9.33 million in the 2012-2013FY, and $23 million in the 2011-2012FY.

According to the Directorate of Investment and Company Administration, Myanmar has approved one investment project with a capital of $26.4 million from the Netherlands. The European country invested $533.92 million in Myanmar in the 2017-2018FY.—Swe Nyein (Translated by Khaing Thanda Lwin)