There has been a trade deficit of more than US$952 million in Myanmar in nearly six and a half months of the 2023-2024 fiscal year, according to statistics released by the Ministry of Commerce.

From April 1 to October 13 in the current 2023-2024 FY, exports were valued at $8056.097 million and imports at $9,008.564 million. The total trade value reached $17,064.661 million. Thus, imports exceeded exports by over $952 million, resulting in a trade deficit of $952.467 million.

From April to March 31st of fiscal year 2022-2023, Myanmar's total trade value was $33.925 billion, compared to $30.351 billion in the same period of the previous year. In the 2022-2023 fiscal year, foreign trade value exceeded $3.573 billion more than the same period of the previous year, according to the Ministry Commerce.

During that period, exports to foreign countries were valued at $16.575 billion, which was $1.084 billion more than the same period of the previous year.

Similarly, the import value amounted to $17.349 billion, which was $2.489 billion more than the previous year.

Myanmar exports agricultural products, animal products, marine products, mineral products, forest products, finished industrial goods and other products.

The country imports capital goods, raw materials, consumer goods and CMP raw materials.

The National Export Strategy is being implemented to promote exports from Myanmar, and the National Export Strategy 2020–2025 includes the production of basic foodstuffs, textiles, and clothing, industrial and electricity sector, marine products sector, forest products sector, digital products and services, support services, quality management sector, trade information, the role of service, and innovation.

From October to September in the 2020-2021 FY, Myanmar's exports amounted to $14.127 billion and $14.658 billion totaling $29.585 billion.

Similarly, imports from abroad amounted to $17.349 billion, exceeding $2.489 billion more than in the previous year.