Consumer goods import valued at over $880 m in over three months

Consumer goods import valued at over $880 m in over three months
Published 17 January 2020

 

Import value of consumer goods in over three months of this fiscal year has reached over US$880 million exceeding over US$20 million compared with the same period of last year, according to the Ministry of Commerce. 

From October 1 to January 3 in the current 2019-2020 financial year, consumer goods worth US$886.738 million were imported while last year's amount was US$886.178 million. So, this year's amount exceeded US$20.563 million. 

Myanmar mainly imports capital goods, raw materials, consumer goods and CMP raw materials. In the three months' period this FY, import value reached over US$4.9 billion exceeding over US$340 million compared to the same period of last year. 

The total trade value is projected to hit 33 billion US dollars—US$15.5 billion export and US$17.5 billion in import— in 2019-20 FY. Therefore, trade deficit is expected to be about US$2 billion, said Union Minister for Commerce Dr Than Myint. 

From October 1 to September 10 in 2018-2019 FY, export value reached US$16,919.925 million and import value US$18,059.923 million totalling US$34.979 billion in trade value. In that FY, trade deficit hit US$1.39 billion.