Trade with Bangladesh declines 66% in first two months of 2018-19 FY

Workers carrying sacks of rice in Maungtaw Trade Zone, Maungtaw. Photo: Aung Ye ThwinKo Min
Workers carrying sacks of rice in Maungtaw Trade Zone, Maungtaw. Photo: Aung Ye ThwinKo Min

Myanmar-Bangladesh trade totalled US$14.352 million in the first two months of fiscal year 2018-2019, registering a decline of $28.5 million, or 66.5 per cent, as against the corresponding period last year, according to the Ministry of Commerce’s monthly report.
The total bilateral trade figures for October and November includes $9.9 million in exports and $4.5 million in imports. When compared with this time last year, the current export value decreased by $29.7 million, however, the value of bilateral imports increased slightly, by almost $1.3 million.
Usually, Myanmar’s exports exceed imports in bilateral trade with Bangladesh, conducted by sea or land. In bilateral border trade, goods move mainly through the Sittway and Maungtaw trade stations.
In border trade, marketable products include bamboo, ginger, peanuts, saltwater prawns and fish, dried plums, garlic, rice, mung beans, blankets, candy, plum jams, footwear, frozen foods, chemicals, leather, jute products, tobacco, plastics, wood, knitwear, and beverages.
During the 2018 six-month mini budget period (April-September), the country’s total trade with Bangladesh reached nearly $243 million, decreasing by $19.8 million against the total value of $63.8 million from this time last 2017-2018 FY.
According to the Directorate of Investment and Company Administration, this FY saw no new investments from Bangladesh. Last FY, Myanmar received $1.5 million in investments from Bangladesh.—Khine Khant (Translated by Khaing Thanda Lwin)

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