Due to ongoing regional instability compounded by the closure of New Asia Road, the trading volume at the Myawady border trade zone experienced a significant decline exceeding US$890 million during the fiscal year 2023-2024.
According to data from the Ministry of Commerce, border trade plummeted by $897.745 million compared to the previous fiscal year of 2022-2023. Since December 2023, the eruption of conflict near the Myawady border trade route and Kawkareik Township has led to the suspension of commercial vehicle traffic along Asia Road, resulting in a substantial downturn in border trade activity.
Between April 1, 2023, and March 31, 2024, exports to foreign countries amounted to only $320.040 million, a stark decrease from the $723.248 million recorded in the preceding fiscal year. Similarly, imports from Thailand totaled $827.192 million during the same period, down from $1,321.729 million in the previous year.
With New Asia Road remaining inaccessible in the current fiscal year of 2024-2025, transportation vehicles are constrained to utilizing the rugged Htokawko mountain road, which is hindered by numerous toll gates and limited to trucks with six wheels or fewer.
As of April 1 to 26 in the current fiscal year, both export and import trade continue to decline, with only $15.837 million worth of goods being traded.
