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Border trade declines by $887 mln

NATIONAL NEWS

Trade between Myanmar and its four neighbouring countries has reached US$8.73 billion this financial year (FY), according to figures released by the Ministry of Commerce.
Till 18 August of the 2020-2021FY, the total border trade amounted to $8.73 billion, down $887 million compared with the last year’s figure of $9.62 billion.
Myanmar shares borders with Bangladesh, China, India and Thailand. Exports to these four countries from the start of October until 13 August generated $5.78 billion in income. Over the same period, Myanmar imported $2.95 million worth of goods.
Myanmar has opened 18 border trade camps and conducts border trade with China through Muse, Lweje, Kampaiti, Chinshwehaw and Kengtung borders.
The country carries out border trade with Thailand through Tachilek, Myawady, Kawthoung, Myeik, Hteekhee, Mawtaung and Meisei land borders. The cross-border trade camps between Myanmar and Bangladesh are Sittway and Maungtaw. In contrast, the country trades directly with India via Tamu and Reed border checkpoints.
Among all the border crossings, the Muse border sees an enormous volume and value of border trade with an estimated value of more than $3.56 billion this FY followed by Myawady with $1.61 billion and Hteekhee with $1.23 billion.
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

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