Border trade between Myanmar and China in Lwe Jel border trade post had reached only US$ 4.660 million as of February 11 of the current fiscal year, down more than US$ 101 million from the same period last year, according to the Ministry of Commerce.
From October to February 11 of the 2021-2022 fiscal year, the value of exports from the Lwe Jel border trade post was US$ 3.402 million and the value of imports was US$ 1.258 million, with trade value of US$ 4.660 million.
In the same period last year, the value of exports from the Lwe Jel border trade post was US$ 90.226 million and the value of imports was US$ 16.128 million, with a trade volume of US$ 106.444 million. Compared to the same period last year, it was US$ 101.784 million less than the same period last year.
In the 2020-2021 FY, China topped the list of countries, which Myanmar exported, with US$ 4,905.80 million, followed by Thailand with US$ 3,172.26 million, according to the Ministry of Commerce.
The export amounts to other countries are as per following: US$ 944.21 million to Japan, US$ 836.3 million to India, US$ 620.59 million to the United States, US$ 426.25 million to Germany, US$ 411.71 million to Spain, US$ 385.40 million to the United Kingdom, US$ 366.18 million to the Netherlands and US$ 305.76 million to South Korea.
From October 1 to the end of September of the 2019-2020 FY, Myanmar-China trade amounted to more than US$ 12.126 billion, with China importing more than US$ 6.724 billion.
From October to September of the 2019-2020 fiscal year, Myanmar-China trade amounted to US$ 12,126.278 million, with exports from Myanmar amounting to US$ 5,401.943 million and imports from China US$ 6,724.335 million.
Business centers will be set up in Myanmar and China to promote trade and investment.
The Muse-Ruili economic cooperation zone is being piloted as one of the three Myanmar-China border cooperation zones, and the other two zones will be implemented depending on the success of the project, said an official from the Ministry of Commerce.bus
