Min Thiha Zaw
Myanmar’s foreign trade volume has reached over US$24 billion within nine months of the current fiscal year and US$5 billion is still needed to meet the target of the foreign trade volume, according to statistics from the Ministry of Commerce.
From April 1 to December 29 of 2017-2018 fiscal year, Myanmar’s foreign trade volume reached US$24,067.617 million, up US$3,992.952 million when it was compared to the same period of last year.
Marine trade volume reached US$18,171.864 million whereas the border trade volume was US$5,895.753 million.
Marine trade volume was up US$3,760.844 million compared to the same period of last year. Border trade volume was up US$232.108 million compared to the same period of last year.
Export volume reached US$10,456.540 million and the import volume was US$13,611.077 million. The import volume was larger than the export with a trade deficit of US$3,154.537million. The trade deficit last year was US$2,980.359 million. The trade deficit of current fiscal year is higher than that of the last.
In the trade sector, Myanmar exported agricultural produces, animal products, mineral products, forest products and industrial finished-goods. It imported personal goods, raw materials and investment goods.
Foreign trade volume was expected to reach US$29 billion with a deficit of US$1 billion for 2017-2018. The target of current fiscal year is US$29 billion. But now the foreign trade volume has reached more than US$24 billion. Therefore, nearly US$5 billion is still needed to be able to meet the target for foreign trade volume.
Translated by Win Htut