Myanmar’s foreign trade slumps to over US$11 bln last four months

MYANMAR’s external trade sank to over US$11 billion in the past four months (April to July) of the current Financial Year 2023-2024, indicating a decrease of $35.067 million compared to the corresponding period last FY, according to the Ministry of Commerce.
Myanmar’s export was worth over $5.094 billion whereas the country’s import was valued at $5.907 billion in the past three months.
Myanmar’s seaborne trade value crossed over $7.55 billion this FY, while border trade was valued at $3.446 billion.
The trade figure in the past four months increased from $11.036 billion recorded in the year-ago period.
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 National Export Strategy (NES) 2020-2025 to boost exports and the priority sectors of the NES include agricultural production, garment and apparel, industrial and electronic device, fishery business, forest products, digital manufacturing and service, logistic service, quality management, trade information service, innovation and entrepreneurship sectors. — NN/EM