Myanmar earned over US$565 million from foreign trade within five days of 2018-19 FY , bring the trade deficit numbers to over US$130 million in that period, according to Ministry of Commerce.
Last year, foreign trade amount in the same period was over US$288 million and it is less than US$277 million in compared with this year amount in the same period.
The trade deficit is over US$133 million as the export amount is over US$216 million and the import amount is over US$349 million, sources said.
Last year trade deficit in the same period was just over US$46 million.
Myanmar earned the record breaking of foreign trade amount of US$18.4 billion in mini-budget period from April to September and it is more than US$2 billion in compared with last year amount in the same period, according to the Ministry of Commerce.
The ministry forecasted to earn US$13.7 billion in the same period but the actual trade amount exceeded the expected amount.
The export amount is at US$8.5 billion in the mini-budget period and it is more than US$1 billion compared to last year amount in the same period.
The import amount is US$9.8 billion in the mini-budget period and it is more than US$700 million when compared with last year amount in the same period.
Myanmar mainly imports construction materials, petroleum products including fuel oil, machines and machinery, raw materials and fertilizers.
The ministry is emphasizing to reduce trade deficiency, to set strategies for national level export to become trade surplus, to ease rules and regulations, to support private sector, to encourage to export value-added products and to access market for entrepreneurs to grant tariff reducing systems such as Generalised scheme of preferences (GSP).
