Import value in four months of this FY reaches about $7 billion

Import value in four months of this FY reaches about $7 billion
Published 13 February 2020

 

Import value over the past four months of this fiscal year has reached about US$7 billion exceeding over US$950 million compared with the same period of last fiscal year, according to the Ministry of Commerce.  

Goods imported from October 1 to January 31 in 2019-2020 FY were valued at US$6.986 billion while the amount in last FY was US$6.033 billion. So this year saw an increase of US$952.385 million. 

Myanmar imports capital goods, raw materials, consumer goods, CMP raw materials and other kinds of goods. 

A World Bank report issued in January indicated an increased demand in Myanmar as import of consumer goods, raw industrial materials and capital goods improved in 2018-2019 FY. The report said increased import of raw industrial materials proves boosting the manufacturing sector. 

Trade foreign trade value is targeted to hit US$34 billion in 2019-2020 FY with up to US$18 billion in export value.