Trade volume at six border trade camps including the Myawaddy one has dropped to about US$80 million (108.4 billion kyat), according to figures from the Trade Department.
From April 1 to December 22 of this fiscal year, the trade volume of all border trade camps reached above US$5.6 billion, up over US$170 million compared with the same period last year.
Although the overall border trade has increased year on year, it declined at six border crossings: the Chinshwehaw and Kengtung trade camps at the Myanmar-China border, and Myawady, Tachilek, Nabule/Htikhee and Tamu trade camps at the Myanmar-India border.
Until December 22 of this fiscal year, trade volume at Chinshwehaw camp dropped by over $39 million compared with the previous fiscal year, Kengtung camp by over $2 million, Myawaddy by over $7 million, Htikhee by over $6 million, Thchilek by over $6 million and Tamu camp by over $17 million.
Myanmar’s primary exports are farm produce, animal products, mining products, forest products and industrial finished products. Key imports are personal goods, raw materials and capital goods.
Myanmar’s export sector is heavily dependent on just a few products: natural resources, natural gas, and agricultural and marine products.
Myanmar has opened 16 border trade camps with China, India, Thailand and Bangladesh. The government is working with neighbouring countries to further extend border crossings.