Myanmar’s border trade reaches $3.3 bln this FY

LOCAL NEWS

The value of border trade, as of 24 January, 2020, has reached over US$ 3.28 billion, exceeding $596 million compared to the same period last year, according to the Ministry of Commerce.
From 1 October to 24 January in the current 2019-2020 fiscal year, border trade amounted to $3.28 billion, while the same period in the last FY saw $2.68 billion.
The country’s exports via its border gates amounted to $2.24 billion, while imports reached $1.04 billion. Compared with the last FY, export earnings went up by more than $459 million, while the import value increased by $136 million.
Myanmar engages in border trade with 18 border trade camps, including Muse, Lwejel, Chinshwehaw, Kanpaiktee, Kengtung, Tachilek, Myawady, Kawthoung, Myeik, Nabulel / Htikhee, Mawtaung, Tamu, Reed, Htantalan and Kenglap.
Among all the gates, the Muse border gate sees the largest volume and value of border trade, with an estimated value of more than $1.7 billion this FY, followed by Htikhee with $558 million and Myawady with $338 million. Myanmar mainly exports agricultural products, animal products, as well as forest products, minerals, fishery products and manufactured goods, among other things, while capital goods, raw industrial materials and consumer products are imported into the country.—Zwe (Translated by Hay Mar)

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