Foreign trade value in Myanmar was just over US$26 billion till August 20 in the current 2020-2021 fiscal year, declining by nearly US$7 billion when compared to the same period of last FY, according to the ministry of commerce.

The foreign trade value was US$26.108 billion from October 2020 to August 20, 2021, while the previous fiscal saw US$33.094 billion in the same period. Therefore, there was a decline of US$6.985 billion.

In eight months of this FY till May, China topped the list of the 10 countries to which Myanmar exported goods most.

Myanmar exported goods worth US$3,985.06 million to China, US$2,091.81 million to Thailand, US$673.87 million to Japan, US$485.50 million to India, US$434.67 million to the US, US$261.71 million to Germany, US$245.75 million to the UK, US$233.48 million to Spain, US$203.72 million to the Netherlands and US$198.29 million to South Korea, according to the data from the commerce ministry.

There was a trade deficit of US$135.628 million as export value was US$10.956 billion and import value US$11.092 billion from October 1 last year to June 25 this year.

Due to the Covid-19 pandemic, trade value between Myanmar and Thailand was just over US$5,100 million in 2019-2020 FY, declining by over US$350 million when compared to 2018-2019.