Imports outdo exports in bilateral trade with Viet Nam in two months

Myanmar’s overseas trade with Viet Nam, a Southeast Asian country, reached US$123 million in the current financial year, according to the Ministry of Commerce’s monthly trade report.
Myanmar’s annual imports from Viet Nam always outperform its exports. During the first two weeks of this FY, the imports were valued at $102.56 million, whereas exports amounted to $21.23 million.
Myanmar imports raw materials, food, auto parts and accessories, computer parts, construction materials, steel, plastics, pharmaceuticals and other chemical products from Viet Nam. The country exports minerals, and agricultural, forest and marine products to the ASEAN member state.
Viet Nam’s trade and investment with Myanmar has annually increased since the 2011-12 FY. The bilateral trade reached a record high of $714.8 million in the last 2017-2018 FY, with exports worth $127.5 million and imports worth $587.3 million.
According to the Directorate of Investment and Company Administration, Viet Nam’s investments in Myanmar last FY were $20.806 million. This year, Myanmar received new Vietnamese investment worth $6.245 million from two projects.—Khine Khant

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