Sino-Myanmar bilateral trade totals US$8.3 bln this FY

LOCAL NEWS

The value of trade with Myanmar’s main trade partner China through maritime and sea trade channels crossed US$8.3 billion in the past ten months (October-July) of the 2020-2021 financial year, including $4.4 billion worth of export and $3.89 billion of import, according to the data released by the Ministry of Commerce.
Myanmar primarily exports agro products to China through the border gates. However, trading in agricultural products is frequently halted on account of China clamping down on illegal trade in border posts. Furthermore, China has been stepping up border control measures to contain the spread of the COVID-19 since April-end, hindering the border trade. At present, China has banned all the border posts in the wake of the COVID surge in Myanmar.
The value of bilateral trade with China stood at $12 billion in the 2019-2020FY, $11.36 billion in the 2018-2019FY, $6 billion in the past mini-budget period, $11.78 billion in the 2017-2018 financial year and $10.8 billion in the 2016-2017FY, respectively.
Rice, various types of peas, sesame seeds, corn, fruits and vegetables, dried tea leaves, fishery products, rubber, minerals and animal products are exported to China, whereas machinery, plastic raw materials, consumer products and electronic tools flow into Myanmar. – KK/GNLM

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