Thailand tops among trading partners in regional countries this FY

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The bilateral trade with neighbouring Thailand, Myanmar’s major trading partner among ASEAN, amounted to US$4.117 billion in the past ten months (October-July) of the current financial year 2020-2021, the statistics issued by the Central Statistical Organization under the Ministry of Planning and Finance indicated.
Thailand has been Myanmar’s largest trade partner among the regional countries, followed by Singapore and Malaysia. Moreover, Myanmar’s exports mostly go to Thailand after the main trade partner outside the region, China.
The ministry reported that exports surpassed imports in trade with Thailand, with exports reaching over $2.548 billion and imports valued at over $1.569 billion.
Thailand accounted for 18.48 per cent of total trade in the 2016-2017FY with an estimated trade value of US$4.6 billion, 19.17 per cent in the 2017-2018FY with a trade value of $5.57 billion, 40.38 per cent in the 2018-2019FY with $5.46 billion and over 40 per cent in the 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. The corn exports to Thailand has shown a significant increase since 2019, the Ministry of Commerce stated.
Myanmar primarily exports natural gas, fishery products, coal, tin concentrate (SN 71.58 per cent), coconut (fresh and dried), beans, corns, 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. Among them, Myawady performed the largest trade in border trade with Thailand, followed by Hteekhee.
Nevertheless, the trading activity via the border is sluggish amid the COVID-19 surge. Consequently, the trade via land borders slightly declined in the current FY (2020-2021) as against last year. Apart from its main trade partner China, Myanmar’s external trade was mostly carried out with the regional trade partners. — KK/GNLM

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