Sino-Myanmar bilateral trade exceeded US$880 million in February this year, registering a decrease of over $200 million, or over 18 per cent, from that of last February, the Ministry of Commerce reported.
The bilateral trade figure covers over $434 million in exports and $447 million in imports.
During this period last year, the trade between the two countries was valued at $1.08 billion, including exports worth $593 million and imports worth $489 million.
The two countries witnessed a decrease in value of both exports and imports. Compared with last year, the current bilateral exports decreased by $159 million or nearly 27 per cent, while imports also decreased by $42 million or 8.5 per cent..
Myanmar’s exports to China, its top trade partner and largest neighbouring country, principally include agriculture, marine, and forest products, importing medicines and related equipment, consumer goods, electronic appliances, food and beverages, cosmetics, and other commodities from China.
Bilateral trade is conducted not only through sea routes but also through border trade camps. There are five major border trade gates between the two countries—Muse, Lwejel, Chinshwehaw, Kanpiketee, and Kengtung.
Bilateral trade between the countries was valued at $5 billion in the 2011-2012 FY. It decreased to $4.957 billion in the following FY. Trade between the two nations increased to $7 billion in the 2013-2014 FY and $9.7 billion in the 2014-2015 FY. Sino-Myanmar trade exceeded $10 billion in the 2015-2016 and the 2016-2017 financial years.
During the 2018 mini-budget period (April-September), bilateral trade between China and Myanmar hit more than $5.5 billion.
China’s investments in Myanmar totalled $1.39 billion in the 2017-2018 FY. The Myanmar Investment Commission approved China’s new investments worth over $170 million as of February from 52 projects. During the last mini-budget period, China’s investments in Myanmar were over $300 million.—Swe Nyein (Translated by Khaing Thanda Lwin)