International trade by sea increased by $1.3 bln since April

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THE value of trade between Myanmar and international countries by sea topped US$6.8 billion in the current financial year and the figure was $1.3 billion more than that of last year, according to the official statistics issued by the Ministry of Commerce on Friday.
Between April and mid-July of this year, the export value of external trade through sea routes was nearly $2.4 billion, while the import value amounted to $4.5 billion in total, with over $2 billion in trade deficit.
This time last financial year, the total value of foreign trade reached $5.56 billion, including $1.87 billion from the export sector and $3.69 billion from the import sector, with a trade deficit of $1.8 billion.
Myanmar predominantly exports agricultural products, livestock, fishery products, forest products, minerals, manufacturing and other products while capital goods, consumer goods and raw industrial products are imported into Myanmar. Efforts have been made by the government to decrease the trade deficit by reducing imported commodities such as luxury products.

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