Bilateral trade with Indonesia up 11.8% in October

Production of rubber latex sheets goes down as the temperature of the local weather increases.  Photo: supplied
Production of rubber latex sheets goes down as the temperature of the local weather increases.  Photo: supplied

Trade between Myanmar and Indonesia in October, the first month of the 2018-2019 Fiscal Year, exceeded US$90 million, an increase of $9.6 million, or 11.77 per cent, from the corresponding period last year, the Ministry of Commerce reported.
In the first month of the current fiscal year, exports stood at $8.7 million and imports were registered at $82.8 million. In October last year, bilateral trade between the countries totalled $81.8 million, with exports worth $8.2 million and imports of $73.6 million. Myanmar’s imports always exceed exports in trade with the Republic of Indonesia. Compared with last year, the value of exports and imports increased this year, with exports rising slightly by $0.5 million and imports rising by over $9 million.
Myanmar’s imports from Indonesia include medicine, paper, palm oil, steel, tobacco, and rubber, while its exports include agricultural and marine products.
According to the yearly statistical report of the ministry, Myanmar-Indonesia trade in the mini-budget period from April through September topped $520 million, an increase of $62 million from the corresponding period last year. Bilateral trade between the countries reached a peak of over $1 billion in the 2017-2018 fiscal year.
Myanmar-Indonesia trade was pegged at $827 million in the 2016-2017 FY, $741 million in the 2015-2016 FY, $636 million in the 2014-2015 FY, over $490 million in the 2013-2014 FY, $226 million in the 2012-2013 FY, and $472 million in the 2011-2012 FY.
According to the Directorate of Investment and Company Administration, Indonesian investments in Myanmar totalled $9.8 million in the 2017-2018 fiscal year and $0.95 million in the mini-budget period this year. There were no new investments from the ASEAN member state in October.—Khine Khant (Translated by Khaing Thanda Lwin)

Share this post
Hot News
Hot News