Export value expected to hit over K20,000 bn in 2018-2019 FY

Writer: 
EMG

Myanmar expects to export goods worth over K20,000 billion and import goods worth over K21,000 billion in 2018-2019 fiscal year, according to a national planning bill for 2018-2019 FY.

The bill says the country's export value will hit K20,808 billion and import value K21,488 billion. When it comes to investment for that fiscal year, investment rate will be 25.4 percent in state-owned sector, 0.01 percent in cooperatives sector and 74.6 percent in private sector.

The national planning bill drawn for 2018-2019 FY becomes effective from October 1 this year. The law is to be enacted to realise the country's economic policy adopted with the aim of developing all socio-economic sectors and ensuring sustainable public-centred economy.

In the first three months of this year, foreign trade value reached nearly US$9 billion exceeding the target, according to the Ministry of Commerce.

The 2018-2019 fiscal year will start in October this year, and foreign trade value in the current six-month transition period is expected to reach US$13.5 billion, said Yan Naing Tun, director general of the Trade Department under the Commerce Ministry.