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Singapore placed Myanmar’s second-largest importer

LOCAL NEWS

Singapore is the second-largest importer of Myanmar with an estimated value of $2.14 billion, the Ministry of Commerce data showed.
Between 1 October and 30 June of the current financial year, the value of Myanmar’s bilateral trade with Singapore in maritime trade and border trade topped $2.3 billion.
The Ministry of Commerce reported that imports surpassed exports in trade with Singapore, with exports reaching $166.9 million and imports valued at over $2.14 billion.
Myanmar trade deficit in goods with Singapore was estimated at US$1.97 billion in the past nine months (October-June) of the current financial year 2020-2021, the statistics issued by the Central Statistical Organization under the Ministry of Planning and Finance indicated.
Singapore is Myanmar’s second-largest trading partner in the region, after Thailand.
Myanmar exports agricultural products, footwear, textiles and clothing, minerals, and animal products to Singapore. It imports plastics, fuel oil, capital goods, intermediate goods, consumer products, metals, and chemicals.
Myanmar’s bilateral trade with Singapore has registered $3.5 billion in the last financial year 2018-2019, $1.99 billion in the 2018 mini-budget period, $3.83 billion in the 2017-2018FY, $2.96 billion in the 2016-2017FY, and $3.69 billion in the 2015-2016FY. — KK/GNLM

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