According to the Ministry of Commerce, Myanmar’s external trade totalled US$20.69 billion in the past eight months of the current financial year 2023-2024, beginning 1 April, comprising exports worth over $9.6 billion and imports worth over $11 billion.
Myanmar’s seaborne trade amounted to $14.9 billion, while $5.768 billion was conducted at borders in the past eight months.
The figures dropped from $22.975 billion in the corresponding period of FY2022-2023, reflecting a sharp drop of $2.28 billion.
Myanmar exports agricultural produce, animal products, minerals, forest products, and finished industrial goods, while it imports capital goods, intermediate goods, raw materials imported by the CMP enterprises and consumer goods.
Myanmar has been implementing the National Export Strategy (NES) 2020-2025 in order to bolster exports. The priority sectors of the NES comprise agricultural production, garment and apparel, industrial and electronic device, fishery business, forest product, digital manufacturing and service, logistic service, quality management, trade information service, innovation and entrepreneurship sectors. — NN/EM
Myanmar foreign trade hits US$20 bln in eight months
- December 17, 2023
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