Myanmar’s foreign trade volume has reached more than US$26 billion within ten months of the 2017-2018 FY, a source of the Ministry of Commerce said.
Foreign trade volume has reached US$26,551.361 million from April 1 to January 26 of the 2017-2018 FY, up US$3,973.539 million compared to the same period of last year.
Until February 26, Myanmar realized US$19,971.881 million of foreign trade volume from the maritime route and US$6,579.480 million of foreign trade volume from the border route.
The maritime trade volume has reached $ US$19,971.881 million, up US$3,682.869 million compared to the same period of last year. The border trade volume has reached US$6,579.480 million, compared to the same period of last year.
The export volume reached US$11,425.343 million and the import volume was US$15,126.018 million. Therefore, the trade balance was US$3,700.675 million in deficit. Last year the trade balance was US$3,589.408 million in deficit.
Myanmar exported agricultural produces, animal products, minerals, timber products and industrial finished goods and imported personal items, raw materials and investment goods.
The Ministry of National Planning and Finance expected that foreign trade volume would reach US$29 billion with a deficit of US$1 billion in 2017-2018 FY. Now the foreign trade volume has already reached more than US$26 billion. Therefore it still needs only US$2 billion to meet with the target.
The Central Statistics Committee stated that there were a deficit of US$91.9 million in 2012-2013 FY, US$2,555.5 million in 2013-2014 FY, and US$4,912.559 million in 2014-2015 FY.
Translated by Win Htut