China topped the list of top ten countries exported by Myanmar with US$4,760.55 million, followed by Thailand with US$3,002.05 million in 11 months of the 2020-21 FY, according to the Ministry of Commerce.
Myanmar exported US$855.20 million worth of products to Japan, US$729.97 million worth of products to India, US$566.66 million worth of products to the United States, US$397.42 million worth of products to Germany, US$361.16 million worth of products to Spain, US$352.47 million worth of products to the United Kingdom, US$324.26 million worth of products to the Netherlands, US$278.58 million worth of products to South Korea in that period, according to the ministry.
Myanmar-China trade amounted to more than US$12.126 billion, with China exporting more than US$6.724 billion from October 1 to the end of September of the 2019-20 FY, according to the ministry.
According to the ministry, business centers will be set up in Myanmar and China to promote trade and investment.
According to the ministry, the trade volume between Myanmar and India was over US$1.3 billion in the 2019-20 FY, reduced to more than US$130 million from the same period last year.
Myanmar exported US$616.464 million worth of goods to India and imported US$696.937 million worth of goods from India from October 1 to the end of September of the 2019-20 FY, with a total trade volume of US$1,313.401 million.
In the first six months of the 2019-20 fiscal year, Myanmar's major trading partners were China with more than 33 per cent, Thailand with 13.6 per cent, Singapore with 9.7 per cent, Japan with 5.3 per cent, India with 4 per cent and other countries with 34.3 per cent, according to a report from the Public Accounts Joint Committee regarding the first six months report of the national plan for 2019-20 FY.
Due to COVID-19, trade between Myanmar and Thailand in the 2019-20 FY was just over US$5,100 million, a decrease of more than US$350 million from the previous year, according to the ministry.
Myanmar exported US$3,095.988 million worth of goods to Thailand and imported US$2,013.486 million worth of goods from Thailand from October 1 to the end of September of the 2019-20 FY, with a total trade volume of US$5,109.479 million.
The main priority areas of the National Export Strategy 2020-2025 are agro-based food production, textile and clothing, industry and electronics, fisheries production, forestry production, digital production and services, logistics services, quality management, trade information services and innovation and entrepreneurship sectors.
