BILATERAL trade between Myanmar and the Republic of Indonesia topped US$1.025 billion at the end of the 2017-2018 fiscal year, according to the latest report from the Ministry of Commerce.
The total trade with the Southeast Asian nation included imports amounting to $901.4 million and exports valued at $123.9 million. When compared with the previous fiscal year, Myanmar-Indonesia trade increased by $198 million in FY2017-18.
Myanmar exports marine products, agriculture products and miscellaneous items to the Southeast Asian nation, while imports from Indonesia include paper, palm oil, steel, tobacco, rubber, medicine and other items.
The ministry’s yearly statistical reports indicate that bilateral trade with Indonesia has gradually increased since the 2013-2014 FY. Myanmar-Indonesia trade was $498 million in the 2013-2014 FY. It increased to $636 million in the 2014-2015 FY, $741 million in the 2015-2016 FY and $827 million in the 2016-2017 FY.
According to the Directorate of Investment and Company Administration (DICA), Indonesia’s investment in Myanmar in FY2017-2018 was $9.859 from one project.