MYANMAR’s exports reached US$1.4 billion over the 41 days in the current transitional fiscal year, up by $299.4 million over the same period last year, according to the latest weekly trade report from the Ministry of Commerce.
The country’s imports during the period were $2.2 billion, which showed an increase in value of $453 million as against the same period last year.
The gap between imports and exports, as of May 11, was $808.5 million. The current trade deficit was marginally higher at $153.8 million, in comparison with the same period in the last year when the country had a trade deficit of $654.7 million, the data showed.
The major commodity groups showing positive export growth between 1 April and 11 May include animal products, fisheries, minerals and manufactured goods, whereas exports of forest-based products, agricultural goods and miscellaneous decreased $61.7 million, compared to last year.
Myanmar chiefly imports three groups of commodities, including capital goods, intermediate goods and consumer products, which saw an increase in value from both public and private sectors during the one and a half months of this financial year.
The country’s import value is annually greater than its exports, causing a trade deficit. It suffered a total trade deficit of more than $3.9 billion last fiscal year.