Total border trade value down by $848 mln

Vehicles 72
Filed Photo: Vehicles seen at Myawaddy border trade zone. Photo-Supplied

The total trade value at 18 border trade camps plummeted by US$848 million in this financial year, according to the Ministry of Commerce.
From 1 October 2020 to 15 January, the total trade value amounted to $2.7 billion, a decrease of $848 million compared with that of the same period last year.
The total border trade value as of 15 January this FY includes $1.78 billion in export and $911 million in import. Compared with that of last FY, the export earnings dropped by $518 million while the import value fell by $330 million. This time last year saw the border trade valued at $3.55 billion.
Myanmar’s major export items are farm, animal, marine, forest, mining, CMP and other products. Myanmar mainly imports capital goods, industrial raw materials, personal goods and CMP raw materials.
Myanmar has opened 18 border trade camps and conducts border trade with China through Muse, Lwejel, Kampaiti, Chinshwehaw and Kengtung borders. The country carries out border trade with Thailand through Tachilek, Myawady, Kawthaung, Myeik, Hteekhee, Mawtaung and Maese borders. The cross-border trade camps between Myanmar and Bangladesh are Sittway and Maungtaw. In contrast, the country trades directly with India via Tamu and Reed borders.
Among all the border crossings, the Muse border sees an enormous volume and value of border trade with an estimated value of more than $1.31 billion this FY followed by Hteekhee with $368 million and Myawady with $304 million. — Zwe (Translated by Hay Mar)

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