Trade deficit hits $ 980 million

 

During four months of the mini budget year, there is now a trade deficit of US$ 980 million, according to the Commerce Ministry.

From April 1 to July this year, the total external trade numbers were recorded at US$ 11,924 million, up US$ 1,347 million compared with last year’s US$ 10,577 million.

During four months, the total export volume amounted to US$ 5,472 million and the total import volume, US$ 6,452 million.

According to the National Planning Bill 2018-2019 FY, the export volume is expected to hit over Ks-20,808 billion while the import volume is to be over Ks-21,488 billion based on the calculation of yearly prices in 2018-2019 FY.

Farm products, forestry products and other goods sectors have seen a decline in export volumes, according to the figures released by the Ministry of Commerce.

Myanmar imports more capital goods, raw materials, personal goods and fuel oil etc.