Myanmar foreign trade surpasses US$27B in 11 months

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A file photo depicting containers in the bustling commercial zone of Yangon Port, set againstl the backdrop of the Yangon River.

MYANMAR’s external trade with foreign partners reached over US$27.758 billion as of 1 March in the current financial year 2023-2024, beginning 1 April, according to the Ministry of Commerce.
Myanmar’s exports were worth over $13.378 billion, whereas the country’s imports were valued at $14.379 billion between 1 April 2023 and 1 March 2024.
Myanmar’s seaborne trade value crossed over $20.55 billion this FY, while border trade was valued at $7.207 billion.
The trade figure over the past 11 months shrank from $31.36 billion recorded in the corresponding period last FY, indicating a sharp drop of over $3.605 billion.
Myanmar exports agricultural products, 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

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