Regional trade touched nearly $1 bln in Oct, reports Ministry of Commerce


The value of Myanmar’s regional trade with ASEAN countries through the sea route and border gates was estimated at US$998.18 million in the month of October in the 2019-2020 financial year, according to the Ministry of Commerce.
The ministry reported that imports surpassed exports in regional trade, with exports reaching $371.26 million and imports valued at $626.9 million.
Since April, Thailand has been Myanmar’s largest trade partner in ASEAN, with trade valued at $473.57 million, followed by Singapore ($250.96 million), Indonesia ($99.13 million), and Malaysia ($91.96 million). Viet Nam has emerged as the nation’s fifth largest trade partner, with bilateral trade estimated at $71.24 million.
Meanwhile, Myanmar’s bilateral trade with the Philippines was $8.5 million, Cambodia $2.6 million, while trade with Laos stood below $1 million $1.27 million. There was no trade with Brunei.
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)

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