Myanmar-Thailand trade reaches $18.86 bln in past 4 years

Bilateral trade between Myanmar and Thailand over the past four years was estimated at US$ 18.865 billion.  Photo: file photo

The value of Myanmar’s bilateral trade with neighbouring country Thailand in regular trading and border trade was estimated at US$18.865 billion in the past four financial years, the statistics issued by the Central Statistical Organization under the Ministry of Planning, Finance and Industry indicated. The ministry reported that exports surpassed imports in trade with Thailand in the past four years, with exports reaching over $10.73 billion and imports valued at over $8.13 billion.
Between 2016-2017FY and 2019-2020 (as of August), Thailand has been Myanmar’s largest trade partner among the ASEAN states, followed by Singapore and Malaysia. Thailand accounted for 18.48 pc of total trade in 2016-2017FY with an estimated trade value of US$4.6 billion, 19.17 pc in 2017-2018FY with a trade value of $5.57 billion, 40.38pc in 2018-2019FY with $5.46 billion and 39.55pc in 2019-2020FY (Oct-April) with $3.15 billion respectively. Exports of natural gas from Taninthayi Region has contributed to the enormous increase in border trade with Thailand in the previous year. This year, corn exports to Thailand rose significantly compared with the earlier years, the Ministry of Commerce stated.
Myanmar primarily exports natural gas, fishery products, coal, tin concentrate (SN 71.58 per cent), coconut (fresh and dry), beans, corns, bamboo shoots, sesame seeds, garment, footwear, plywood and veneer, broken rice and other commodities to Thailand. It imports capital goods such as machinery, raw industrial goods such as cement and fertilizers, and consumer goods such as cosmetics, edible vegetable oil and food products from the neighbouring country. The surge in coronavirus cases in Myanmar led Thailand to close its border area in Maesai recently. Only six trucks are now allowed on Tachilek-Maesai bridge per day after negotiations of the two countries, the Union of Myanmar Federation of Chambers of Commerce and Industry released the news on 16 September 2020.
Besides Tachilek, Myanmar is carrying out border trade with the neighbouring country Thailand through Myawady, Myeik, Mawtaung, Hteekhee, Kawthoung and Maese border areas respectively. Among them, Hteekhee performed the most extensive trade in border trade with Thailand, followed by Myawady. Apart from its leading trade partner China, Myanmar’s external trade was mostly carried out with the regional trade partners. Trade with countries in the European Union, however, remained uncompetitive, compared with regional trade partners.—Ko Htet (Translated by Ei Myat Mon)

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