Regional Trade Tops $9.94 Bln This FY, Reports Ministry Of Commerce

19 Aug

The value of Myanmar trade with ASEAN countries through the sea route and land borders has registered at US$9.94 billion in the nine months (Oct-June) of the 2019-2020 financial year, according to the Ministry of Commerce.

The ministry reported that imports surpassed exports in regional trade, with exports reaching over $3.6 billion and imports valued at over $6.32 billion.

Since October, Thailand has been Myanmar’s largest trade partner in ASEAN, with trade valued at $3.9 billion, followed by Singapore ($3.3 billion), Malaysia (over $1 billion) and Indonesia ($936.5 million). Viet Nam has emerged as the nation’s fifth-largest trade partner, with bilateral trade estimated at $609.47 million.

Meanwhile, Myanmar bilateral trade with the Philippines was $122.74 million, Cambodia $25.7 million, while trade with Laos stood at $1.3 million, and Brunei, less than $1 million.

Myanmar main export items included agricultural and fishery products, as well as minerals, while imports included food and beverages, electronic tools, motor vehicles, and consumer goods. Apart from its leading trade partner China, Myanmar mostly carried out its external trade with regional partners. Trade with countries in the European Union, however, remained uncompetitive, compared with the Southeast Asian trade partners. 

 GNLM (Translated by Ei Myat Mon)