Myanmar foreign trade plunges nearly US$4B in FY 2023-2024

Myanmar’s international trade with foreign trade part­ners crossed US$30 billion in the past financial year 2023-2024 (April-March), indicating a significant drop of four billion dollars compared with that of the FY 2022-2023. The total trade balance was $3.39 billion in the year-ago period, the Ministry of Commerce’s statistics showed.


Myanmar’s exports hit over $14 bil­lion, and its imports were valued at over $15 billion. Maritime trade is the back­bone of international trade. Myanmar’s seaborne trade value was estimated at $22.36 billion, while border trade value was $7.7 billion in the past FY.


Myanmar exports agricultural pro­duce, animal products, minerals, forest products, and finished industrial goods and brings in capital goods, intermediate goods, raw materials imported by the CMP enterprises and consumer goods. — TWA/KK