External trade down $7.15 bln this FY

DSC 5514 mk
An overseas-going container cargo vessel is seen docking at Yangon Port.

Myanmar’s external trade between 1 October and 30 September in the financial year 2020-2021 indicated a significant down to US$ 29.58 billion, a sharp drop of over $ 7.15 billion compared to that of the last year, according to the Ministry of Commerce.
During the same period in the previous FY, the trade stood at $36.73billion, according to data released by the ministry.
Over the past months, Myanmar’s export was worth over $14.93 billion, which plunged from $17.68 billion registered a year-ago period. Meanwhile, the country’s import was valued $14.66 billion, showing a significant decrease of $19.05 billion compared with the last FY.
Myanmar exports agricultural products, animal products, minerals, forest products, and finished industrial goods, while it imports capital goods, raw industrial materials, and consumer goods.
The country’s export sector relies more on the agricultural and manufacturing sectors.
The Ministry of Commerce is focusing on reducing the trade deficit, export promotion and market diversification.
The external trade stood at $36.73 billion in the 2019-2020FY, $35.147 billion in the 2018-2019FY, $18.728 billion in the 2018 six-month interim period, $33.578 billion in the 2017-2018FY and $29.209 billion in the 2016-2017FY, respectively, as per the Commerce Ministry’s statistics. —GNLM

Share this post
Hot News
Hot News
Shan United technical director to handle Myanmar U-19 football team
Onion price plummets in regional markets
Applications for admission to master classes at YUE invited
Palm oil market sees steep plunge in price before Thingyan holidays
The following documentary photos are portraying the Parade on the 78th Anniversary of Armed Forces Day held in Nay Pyi Taw on 27 March 2023: –
Higher Potential Boredom Threshold in Language Study
Remove the danger of narcotic drugs for the future of youths
Dinner hosted in honour of 78th Anniversary of Armed Forces Day
SAC Vice-Chair Dy C-in-C of Defence Services C-in-C (Army) Vice-Senior General Soe Win and wife pay respects to Independence Mawgun award winners who attended 78th Anniversary of Armed Forces Day Parade
Families of Tatmadaw (Army, Navy and Air) led by SAC Chairman Defence Services C-in-C Senior General Thadoe Maha Thray Sithu Thadoe Thiri Thudhamma Min Aung Hlaing and wife pay respects to retired senior military officers who attended 78th Anniversary of Armed Forces Day Parade