Over $1.4bn worth’s of capital goods imported in over three months

Over $1.4bn worth’s of capital goods imported in over three months
Published 21 January 2021

Myanmar has imported capital goods worth over US$1.4 billion over the past three months this fiscal year falling over US$510 million when compared to the same period of last year, according to the Ministry of Commerce. 

From October 1 to January 8 in the current 2020-2021 financial year, US$1.475 billion worth of capital goods were imported. In the same period of the previous fiscal year, the amount was US$1.993 billion. 

According to the Directorate of Investment and Companies Administration, Myanmar had seen over US$25.5 billion in foreign investment from 2016-2017 fiscal year to 2020. 

Those foreign investments mainly came to 11 sectors such as manufacturing, transport and communications, housing development, energy, hotel and tourism, livestock and fisheries, oil and gas, agriculture, mining and services. 

Manufacturing sector saw the largest investment with over US$6.289 billion by 719 businesses accounting for over 26 percent of the total investment. 

Twenty nine businesses invested US$6.135 billion in the transport and communication sector accounting for over 25 percent.