Myanmar’s exports to Hong Kong SAR surpass imports last FY

The value of Myanmar’s bilateral trade with Hong Kong SAR touched US$213.69 million in the 11 months of the last financial year 2019-2020, with exports surpassing imports, according to the data provided by the Ministry of Commerce.
Between October and August, Myanmar shipped goods worth $208 million to Hong Kong SAR and imported goods valued at $5.56 million.
Myanmar’s significant items of export to Hong Kong SAR include precious stones, agricultural products, fishery products, and garments. The nation mainly imports telecommunications equipment and optical goods.
Myanmar-Hong Kong trade has registered $232.395 million in the 2018-2019FY, $238 million in the mini-budget period (April to September 2018), $385.63 million in the 2017-2018FY, 234.46 million in the 2016-2017FY, and $316 million in the 2015-2016FY, the Commerce Ministry’s data showed.
Hong Kong SAR is one of the world’s leading financial centres, logistics hub, and an international legal and dispute resolution services centre for Asia. It has positioned itself to play a prominent role in facilitating trade and investment flows and has been working towards closer economic integration with ASEAN countries, including Myanmar.
The economic interaction between Myanmar and Hong Kong SAR has been increasing rapidly.
Hong Kong SAR has emerged as the third-largest investor in Myanmar in the incumbent government period with 139 Hong Kong-based firms pumping in $2.4 billion in the country, according to the Directorate of Investment and Company Administration (DICA). — GNLM (Translated by Ei Myat Mon)

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