Ministry of Commerce sets up top three priority sectors for imports

Ministry of Commerce sets up top three priority sectors for imports
Published 5 October 2023

Trade Department under the Ministry of Commerce has unveiled the top three priority sectors for imports. The priority sector (1) covers pharmaceuticals, medical devices, fertilizers, pesticides, seed, diesel, petrol, edible oil, raw materials used in livestock businesses, veterinary drugs, industrial raw materials, PET chips, food materials, plastic raw materials, medicine and herbal raw materials, packing materials, lubricants, engine oil, other industrial oil, tar and LPG gas.

In the priority sector (2), it includes, iron and steel, paper and stationary, equipment for electricity generation, transmission and distribution, construction material, machine and spare parts, transmission and distribution, tyre and rubber products.

In the priority sector (3), it includes electronic goods, electrical goods, telephones and telecommunication devices, foodstuff, consumer products, vehicles for commercial purposes and machinery.

From October to September 2020-2021 FY, China, Singapore, Thai, Indonesia, Malaysia, India, South Korea, Vietnam, Japan and United States are top import countries to Myanmar.

China imported US $ 4647.10 million, Singapore US $ 2604.22 million, Thailand imported US$ 1980.89 million, Indonesia US $ 1164.51 million, Malaysia US$ 787.34 million, India US$ 386.54 million, South Korea US$ 376.85 million, Vietnam US$ 58 million, Japan US$ 352.46 million, and United States of America US$ 227.32 million in 2020-2021 FY.