Muse border trade decreases by $1 bln as of 24 Sept

The value of trade between Myanmar and China via the Muse land border as of 24 September 2021 showed a drastic drop of US$1 billion since October 2020 owing to the border trade suspension, as per the Ministry of Commerce. The value of the Muse border trade touched a low of US$3.8 billion in the financial year 2020-2021 amid the political changes and the COVID-19 impacts. The figures plummeted from $4.82 billion recorded in the year-ago period, according to the Ministry of Commerce.
As of 24 September 2021, Myanmar’s exports to China through the Muse land border were valued at $2.64 billion, while imports are worth $1.157 billion. The trade showed a slump in both exports and imports. China has closed down the border posts (Kyinsankyawt, Wamting) from 8 July 2021 following the COVID-19 cases in Myanmar. On 30 March, Mang Wein, which is a major border crossing between Muse and Kyalgaung areas, was suspended owing to the COVID-19 cases. On 1 April, Nantaw and Sinphyu border posts suspended their operations. As a result of this, the border trade between Myanmar and China was completely halted. The closure of the Sino-Myanmar border trade resulted in job losses of about 400,000-600,000 workers engaged in the Muse border post. Furthermore, the short-haul trucks from Muse to China were also affected by this consequence. Additionally, traders from the Muse border post were also battered by trade suspension, stopping the tax revenue.
Nonetheless, China will give the green light to the items stockpiled at the warehouses and checkpoint of Kyalgaung, China to be imported into Myanmar soon, in line with the standard operating procedures (SOPs). Myanmar exports agricultural products, including rice, beans and corn, and fishery products such as crab, prawn, etc. Furthermore, Myanmar’s natural gas export to China is also conducted through the Muse-Ruili border. The raw CMP materials, electrical appliances and consumer goods are imported into the country. —KK/GNLM