Muse trade down by $761 mln as of 29 March

Truks seen at 105-mile trade zone Muse, northern Shan State. Photo : Phoe Khwar
Truks seen at 105-mile trade zone Muse, northern Shan State. Photo : Phoe Khwar

The value of Sino-Myanmar border trade through Muse gate fell by US$761 million from 1 October, 2018 to 29 March, 2019 compared with the corresponding period of last fiscal year, according to data of the Ministry of Commerce.
During Oct-March period, export through Muse gate is worth $1.57 billion while import is valued $863 million, totaling $2.4 billion which plunged from $3.19 billion of last year.
Export through Muse gate drastically dropped owing to tight confiscation and trade suspension by China since October 2018, coupling with closure of border gate.
Muse is the major border gate in Myanmar that performs the largest trade volume but it saw a steep drop as China has been strictly combating against illegal goods.
Myanmar merchants cannot export to China through legitimate channel as the tax levied by China is too high for traders to pay.
The import duty is set 35 per cent to 100 per cent. Some duties are imposed up to 150 per cent. Therefore, rice confiscation and price manipulation often occur.
Myanmar’s rice, sugar, pulses, sesame seeds, corn, dried tea leaves, fishery products, minerals and animal products are exported to China, while agriculture machinery, electrical appliances, iron and steel-related materials, raw industrial goods and consumer goods flowed into the country.—GNLM (Translated by Ei Myat Mon)

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