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Myanmar’s foreign trade reaches over US$6.004 bln in mini-budget of 2021-22FY

LOCAL NEWS

Foreign trade value in Myanmar was over US$6.004 billion till 17 December in the current mini-budget of the 2021-2022 financial year, declining by over $504 million when compared to the same period of last FY, according to the ministry of commerce.
From 1 October to 17 December 2021, the foreign trade was $6.004 billion, while the previous FY saw $6.509 million in the same period.
During this mini-budget year, the country’s export amounted to over $3.067 billion, down over $231 million compared with last’s figure. The country’s imports also hit over $2.937 billion, declining over $273 million.
Myanmar exports agricultural products, animal products, minerals, forest products, and finished industrial goods, while it imports capital goods, raw industrial materials, CMP raw materials and consumer goods.
According to the annual data released by the commerce ministry, the country’s foreign trade value was $18,045.929 million in 2012-2013FY, $27,714.826 million in 2015-2016FY, $29,209.607 million 2016-2017FY, $33,578.052 million in 2017-2018FY, $18,728.815 million in 2018 mini-budget year and $35,147.012 million in the 2018-2019FY.
Agro-based food production, textile and clothing, industry and electronics, fisheries production, forestry production, digital production and services, logistics services, quality management, trade information services and innovation and entrepreneurship sectors are the main priority areas of the National Export Strategy (NES) 2020-25. — ACM/GNLM

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