The value of Sino-Myanmar border trade through the Muse checkpoint as of 8 February in the current financial year (Oct 2018-Sep 2019) showed a decline of US$585 million compared to the year-ago period, according to data released by the Ministry of Commerce.
Between 1 October and 8 February, trade at Muse gate plunged to $1.79 billion from $2.38 billion recorded in the corresponding period of the previous FY.
Muse is a major border gate in Myanmar and performs the largest volume of trade. It has witnessed a steep drop in trade owing to tight confiscation and trade suspension by China coupled with a market holiday during the Chinese New Year.
Over the four-month period in the current FY, exports through Muse gate totalled $1.14 billion, while imports were valued at $649 million. Exports fell by $600 million, whereas imports showed a slight increase compared with the same period in the previous fiscal.
Myanmar conducts border trade with China through the Muse, Lwejel, Chinshwehaw, Kanpiketee, and Kengtung gates.
Myanmar exports rice, sugar, pulses, sesame seeds, corn, dried tea leaves, fishery products, minerals, and animal products to China, while it imports agriculture machinery, electrical appliances, iron and steel-related materials, raw industrial goods, and consumer goods.
(Translated by Ei Myat Mon)