Exports fall by US$72m

Myanmar's foreign trade volume surpassed US$25 billion this fiscal year despite its exports being US$72 million short of the last fiscal year's amount, according to the Ministry of Commerce.

The total trade volume of more than US$25.17 billion included exports of US$10.1 billion and imports of US$15.06 billion made from April 1, 2014 to February 27.

The country's foreign trade volume was expected to surpass its projected amount for the year if average monthly volumes of more than US$2 billion were maintained, said the ministry.

Myanmar currently imports more by sea but exports more through its land borders.

The country heavily relies on a few exports like natural gas, teak, agricultural and marine products.    

In the meanwhile, foreign investment has already reached just under US$7 billion this fiscal year, exceeding the amount for 2013-14, according to Directorate of Investment and Company Administration.

Foreign investment in 2013-14 was US$4.1 billion.

Most foreign investment went into the energy sector. The smallest amount went into the construction sector.

The government is trying to attract investment into its most labour-intensive sectors, according to Myanmar Investment Commission.