Import value of consumer products declines by over $51 mln this FY

The value of imported consumer products in Myanmar reached US$3.25 billion between 1 October and 17 September in the current financial year 2020-21, a sharp drop of $51 million, according to the data from the Ministry of Commerce.
The import value of consumer products saw a significant decrease by over $128.942 million, compared to the corresponding period of the last 2019-2020FY when it was $3.3 billion.
In the ten months of the 2020-2021 financial year from October to July, over $6.2 billion was earned from the export of finished industrial products. But, the export value of finished industrial products was over $8.12 billion in the same period of the previous budget year. Therefore, there was a decline of over $1.8 billion.
Myanmar primarily imports personal goods, luxury products, construction materials, agricultural machinery, raw materials, household goods and CMP raw materials from its neighbouring countries.
The value of imported consumer products reached 3.25 billion, including $24.788 million through the government sector and $3.224 billion through the private sector.
The import value was $1.245 billion in the 2011-2012FY, $1.4 billion in the 2012-2013FY, $2.3 billion in the 2013-2014FY, $2.9 billion in the 2014-2015FY, $3.5 billion in the 2015-2016FY, over $4 billion in the 2016-2017FY, over $4.42 billion in the 2017-2018FY, over $2.65 billion in the 2018 mini-budget year, over $4.85 billion in the 2018-2019FY and over $4.86 billion in the 2019-2020FY. — ACM/GNLM