Consumer goods import declines over $51m this fiscal year

Consumer goods import declines over $51m this fiscal year
Published 26 September 2021

Import value of consumer goods in Myanmar reached over US$3,249 million toll September 17 this fiscal year, declining by over 51 million when compared to the same period of last fiscal, according to the data from the ministry of commerce.  

From October to September 17 in the 2019-2021 financial year, consumer goods worth US$3,300.920 million were imported.

In the ten months of 2020-2021 fiscal year from October to July, over US$6.2 billion was earned from export of finished industrial products. But, the export value of finished industrial products was over US$8.12 billion in the same period of the previous fiscal year. Therefore, there was a decline of over US$1.8 billion.

Myanmar engages a CMP (cutting, making and packing) system mainly in the garment industry. The system is also applied in other businesses such as shoe making, bag making and electric appliances.