Myanmar’s trade with foreign trade partners amounted to US$22.72 billion as of 29 December in the current financial year 2023-2024, comprising exports worth $10.684 billion and imports worth $12.037 billion.
The total trade value dropped from $25.447 billion recorded in the year-ago period, the Ministry of Commerce’s statistics showed. Myanmar’s seaborne trade value was estimated at $16.537 billion, while $6.18 billion of trade was conducted at borders in the past nine months.
Myanmar exports agricultural produce, animal products, minerals, forest products, and finished industrial goods, while it imports capital goods, intermediate goods, raw materials imported by the CMP enterprises and consumer goods.
Myanmar has implemented the National Export Strategy (NES) 2020-2025 to bolster exports. The prioritized sectors of the NES comprise agricultural produce, garment and apparel, industrial and electronic device, fishery business, forest product, digital manufacturing and service, logistic service, quality management, trade information service, innovation and entrepreneurship sectors. — NN/EM
