Bilateral trade between Myanmar and the Philippines from April through September this year reached US$28.6 million, a slight increase of $7.5 million, or 35 per cent, from the same period last year, according to the Ministry of Commerce.
Myanmar’s imports from the Philippines, one of Myanmar’s regional trade partners, usually exceed its exports.
During the six-month period this year, Myanmar exported $11.46 million worth of goods and imported commodities worth $17.2
When compared with the same period in the 2017-2018 Fiscal Year, the value of both exports and imports saw an increase this year.
At this time last year, bilateral trade between the two countries stood at $21.19 million, with exports valued at nearly $7 million and imports totalling $14.19 million.
According to statistics released by the Commerce Ministry, trade between Myanmar and the Philippines touched $52.432 million in FY2017-2018, falling $4 million from FY2016-2017.
The value of bilateral trade between the countries stood at $28.998 million in the 2015-2016 FY, $28.2 million in the 2014-2015 FY, $33.353 million in the 2013-2014 FY, $44.012 million in the 2012-2013 FY, and
$48.959 million in the 2011-2012 FY.
Myanmar imports capital goods, consumer products, and intermediate goods from other ASEAN member countries, Asian and African states, some European countries and Western nations.
The country mainly exports agricultural, animal, marine, and forest products, minerals, and manufactured goods.
(Translated by Khaing Thanda Lwin)