Thailand remains Myanmar’s top trading partner among regional countries in 7 months

The bilateral trade with neighbouring Thailand, Myanmar’s major trading partner among ASEAN, accounts for US$3.467 billion in the seven months (April-October) of the current financial year 2022-2023 by sea and border channels, the statistics issued by the Central Statistical Organization under the Ministry of Planning and Finance indicated.
The ministry reported that exports surpassed imports in trade with Thailand, with exports reaching over $2.2 billion and imports valued at over $1.26 billion.
Thailand has been Myanmar’s largest trade partner among the regional countries, followed by Singapore and Malaysia.
Myanmar’s bilateral trade with Thailand was registered at $2.97 billion in the 2021-2022 mini-budget period, $5.277 billion in the 2020-2021FY,
Thailand accounted for 18.48 per cent of total trade in 2016-2017FY with an estimated trade value of US$4.6 billion, 19.17 per cent in 2017-2018FY with a trade value of $5.57 billion, 40.38 per cent in 2018-2019FY with $5.46 billion and over 40 per cent in 2019-2020FY with $5.117 billion respectively.
Exports of natural gas from the Taninthayi Region contributed to the enormous increase in border trade with Thailand in the previous years. Last year, corn exports to Thailand also rose significantly as well, the Ministry of Commerce stated.
Myanmar primarily exports natural gas, fishery products, coal, tin concentrate (SN 71.58 per cent), coconut (fresh and dry), beans, corn, bamboo shoots, sesame seeds, garment, footwear, plywood and veneer, broken rice and other commodities to Thailand. It imports capital goods such as machinery, raw industrial goods such as cement and fertilizers, and consumer goods such as cosmetics, edible vegetable oil and food products from the neighbouring country.
Myanmar is carrying out border trade with the neighbouring country Thailand through Tachilek, Myawady, Myeik, Mawtaung, Hteekhee, Kawthoung and Meisei border areas respectively.
Apart from its main trade partner China, Myanmar’s external trade was mostly carried out with regional trade partners. — KK