The value of Myanmar’s regional trade with ASEAN countries through the sea route and land borders was estimated at US$6.9 billion in the first half (Oct-March) of the 2019-2020 financial year, according to the Ministry of Commerce.
The ministry reported that imports surpassed exports in regional trade, with exports reaching $2.14 billion and imports valued at $4.75 billion.
Since October, Thailand has been Myanmar’s largest trade partner in ASEAN, with trade valued at $2.7 billion, followed by Singapore ($2.2 billion), Malaysia ($772.9 million) and Indonesia ($651.4 million).
The Philippines has emerged as the nation’s fifth-largest trade partner, with bilateral trade estimated at $838.19 million.
Meanwhile, Myanmar’s bilateral trade with Viet Nam was $423.97 million, Cambodia $16.896 million, while trade with Laos stood at $1 million, and Brunei, less than $1 million. Myanmar’s main export items included agricultural and fishery products, as well as minerals, while imports included food and beverages, electronic tools, motor vehicles, and consumer goods. Apart from its main trade partner China, Myanmar’s external trade was mostly carried out with regional trade partners. Trade with countries in the European Union, however, remained uncompetitive, compared with regional trade partners.—GNLM (Translated by Ei Myat Mon)