Myanmar’s border trade reaches over $8.4 bln in first ten months of FY2020-21

Myanmar’s trade with foreign countries through border crossings reached over US$8.44 billion as of 9 July in the present financial year (FY) 2020-21 which started in October, according to figures released by the Ministry of Commerce.
Border trade with Bangladesh, India, Thailand and China has declined compared to the last FY. Including the maritime routes, total trade so far this year is more than $23.6 billion. That’s about $5.6 billion less than the same period last year.
During the period, the country’s export via border checkpoints amounted to $5.67 billion while its import shared $2.77 billion.
This FY, border trade decreased to over $392 million compared to the same period of last FY when it amounted to $8.83 million, the ministry’s figures said.
Muse topped the list of border checkpoints with the most trade value of $3.5 billion, followed by Myawady with $1.4 billion.
The country conducts border trade with neighbouring China through Muse, Lweje, Kampaiti, Chinshwehaw and Kengtung with Thailand via Tachilek, Myawady, Kawthoung, Myeik, Hteekhee, Mawtaung and Maese land borders, with Bangladesh via Sittway and Maungtaw and with India through Tamu and Reed border checkpoints, respectively.
Myanmar’s major export items are farm, animal, marine, forest, mining, CMP and other products. Myanmar mainly imports capital goods, industrial raw materials, personal goods and CMP raw materials. — ACM/GNLM