Myanmar foreign trade plunges nearly US$4B in FY 2023-2024

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A worker is captured on the rubber processing line, one of Myanmar’s key export commodities.

Myanmar’s international trade with foreign trade partners crossed US$30 billion in the past financial year 2023-2024 (April-March), indicating a significant drop of four billion dollars compared with that of the FY 2022-2023. The total trade balance was $3.39 billion in the year-ago period, the Ministry of Commerce’s statistics showed.
Myanmar’s exports hit over $14 billion, and its imports were valued at over $15 billion. Maritime trade is the backbone of international trade. Myanmar’s seaborne trade value was estimated at $22.36 billion, while border trade value was $7.7 billion in the past FY.
Myanmar exports agricultural produce, animal products, minerals, forest products, and finished industrial goods and brings in capital goods, intermediate goods, raw materials imported by the CMP enterprises and consumer goods. — TWA/KK

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