US$25 bn trade expected this fiscal year

Hteetan Harbour for trading via sea lane. (Photo-Kyi Naing/EMG)

Trade should top US$25 billion before the current fiscal year ends March 31 with most of that completed by the end of this month, the Ministry of Commerce reports.

Myanmar is trading with its partners – China, Thailand, Singapore, Japan, Malaysia, India, South Korea, Indonesia, the United States, Hong Kong, Germany and the United Kingdom – both through border routes and sea lanes. Export earnings from both routes have so far amounted to $9.9 billion while $14.6 billion was spent on imports.

Chief export products include agricultural produce, animal and fishery products, mineral extractions, forest products and industrial finished products while imports include merchandise for investment, raw materials and commodities.

Last fiscal year earned $9.8 billion from exports and spent $12.1 billion on imports.