The value of trade between Myanmar and Germany from October to July of the current financial year 2020-2021 exceeded US$460 million, according to data of the Ministry of Commerce.
Myanmar’s export to Germany surpassed its import, with $349.882 million worth of export and $110.79 million valued import, according to the statistics released by the Ministry of Commerce.
Beyond the regional trade regime, Myanmar has established trade links with EU members. Germany is the biggest trade partner of Myanmar in European Union, followed by Spain.
The main export items are rice, pulses, tea leaf, coffee, garments on a Cut-Make-Pack basis and fisheries. Meanwhile, machinery, data-processing equipment, electrical and optical goods, chemical products, motor vehicles and parts and pharmaceutical products, cosmetics, food and beverages and consumer goods are imported into Myanmar.
Myanmar reinstated the EU’s Generalized Scheme of Preference starting from 19th July 2013. Myanmar can enjoy GSP for the export of fisheries, rice, pulses, agro products, bamboo and rattan finished products, forestry products, apparel and finished industrial goods.
Trade value with Germany was registered at $823.7 million in the last FY 2019-2020, $821.5 million in the FY 2018-2019, $373 million in the past mini-budget period (April-September 2018), $584 million in 2017-2018 FY, $342 million in 2016-2017 FY and $153 million in FY 2015-16, respectively. — KK/GNLM