German-Myanmar bilateral trade nears $400 mln in H1 2019-2020FY

Trade value between Myanmar and Germany between October and March of the current fiscal year 2019-2020 crossed US$398.85 million, according to the data of the Ministry of Commerce.

Myanmar’s export to Germany surpassed its import, with $302 million worth of export and $96.5 million valued import, according to the statistics released by the Ministry of Commerce. Beyond regional trade regime, Myanmar has established trade links with EU members. Germany is the biggest trade partner in the European Union, followed by France. The main export items are rice, pulses, tea leaf, coffee, garments on Cut-Make-Pack basis and fisheries. Meanwhile, machinery, data-processing equipment, electrical and optical goods, chemical products, motor vehicles and parts and pharmaceutical products, cosmetic, food and beverages and consumer goods are imported into Myanmar.

Myanmar reinstated EU’s Generalized Scheme of Preference starting from 19th July 2013. Myanmar can enjoy GSP for export of fisheries, rice, pulses, agro products, bamboo and rattan finished products, forestry products, apparels and finished industrial goods. Nevertheless, the EU imposed a three-year tariff on Indica rice (long-grain rice) imported from Myanmar and Cambodia starting from 18 January 2019.

Trade value with Germany was registered at $821.5 million in the last FY 2018-2019, $373 million in the past mini-budget period (April-September 2018), $584 million in 2017-2018 FY, $342 million in 2016-2017 FY and $153 million in FY 2015-16 respectively. — GNLM (Translated by EMM)

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