Myanmar’s foreign trade soars past US$13 bln in last five months

MYANMAR’s external trade totalled over US$13 billion in the past five months (Apr-Aug) of the current Financial Year 2023-2024, according to the Ministry of Commerce.
Myanmar’s export was worth over $6.484 billion whereas the country’s import was valued at $7.213 billion in the past five months.
Myanmar’s seaborne trade value crossed over $9.587 billion this FY, while border trade was valued at $4.1 billion.
The trade figure in the past five months shrank from $14.388 billion recorded in the corresponding period last FY, indicating a sharp drop of over $690.175 million.
Myanmar exports agricultural produce, animal products, minerals, forest products, and finished industrial goods, while it imports capital goods, intermediate goods, raw materials imported by the CMP enterprises and consumer goods.
Myanmar has been implementing the National Export Strategy (NES) 2020-2025 in order to bolster exports. The priority sectors of the NES comprise agricultural production, garment and apparel, industrial and electronic device, fishery business, forest product, digital manufacturing and service, logistic service, quality management, trade information service, innovation and entrepreneurship sectors. — NN/EM