The value of border trade between India and Myanmar declined by US$51.47 million between October and mid-May period of the current fiscal year owing to the closure of borders by India in wake of the coronavirus pandemic.
India has closed the borders in Mizoram and Manipur on account of the pandemic, and traders are reeling under the negative impact of the outbreak.
The cross-border trade between Myanmar and India has stopped, and the reopening of the borders would depend on the spread of the virus.
Myanmar also conducts trade with neighbouring India through Tamu, Reed, and Thantlang borders.
Between 1 October and 15 May in the current fiscal year, trade values were registered at over $36 million at Tamu and $40 million at Reed. There was no trade recorded at the Htantalan border.
Over the past seven and half months since October, the India-Myanmar trade plunged to $76.3 million from $127.8 million recorded in the year-ago period, according to the data released by the Ministry of Commerce.
Myanmar exports mung beans, pigeon peas, green grams, areca nuts, ginger, saffron, turmeric, bay leaves, fishery products, fruits, and vegetables to India, while it imports pharmaceuticals, oil cakes, electronic appliances, motorbikes, steel and other construction machines and building materials from the neighbouring country.—Ko Khant (Translated by Ei Myat Mon)