Myanmar’s foreign trade exceeds US$25 bln in ten months

Myanmar’s international trade with foreign trade partners amounted to US$25.5 billion in the past ten months of the current financial year 2023-2024, beginning 1 April, comprising exports worth $12.135 billion and imports worth $13.378 billion.
The total trade balance plunged from $28.66 billion recorded in the year-ago period. The figures reflected a sharp drop of $3.15 billion compared with that of the corresponding period last FY, the Ministry of Commerce’s statistics showed.
Myanmar’s seaborne trade value was estimated at $18.787 billion, while $6.7 billion of trade was conducted at borders in the past ten months.
Myanmar exports agricultural produce, animal products, minerals, forest products, and finished industrial goods, while it imports capital goods, intermediate goods, raw materials imported by the CMP enterprises and consumer goods.
Myanmar has been implementing the National Export Strategy (NES) 2020-2025 in order to bolster exports. The priority sectors of the NES comprise agricultural production, garment and apparel, industrial and electronic device, fishery business, forest product, digital manufacturing and service, logistic service, quality management, trade information service, innovation and entrepreneurship sectors. — NN/EM