Total border trade value exceeds $ 2.2 bln

Total border trade value exceeds $ 2.2 bln
 Mandalay-Muse border trade route. (Photo-Tun Nay Hlaing)
Mandalay-Muse border trade route. (Photo-Tun Nay Hlaing)
Published 29 December 2019

 

Till December 13 of this fiscal year, the total trade value at 18 border trade camps exceeded 2.2 billion US dollars, according to the Commerce Ministry.

From October 1 to December 13 of 2019-20 FY, the total border trade value amounted to 2.265 billion US dollars, up 605.459 million US dollars compared with the same period last year.

Muse trade camp in Myanmar-China border reached 1.2 billion US dollars, up over 440 million US dollars compared with the same period last year. It accounts for 53.33 per cent of the total border trade.

Myanmar’s major export items are farm, animal, marine, forest, mining, CMP and other products. Myanmar mainly imports capital goods, industrial raw materials, personal goods and CMP raw materials.

In 2019-20 FY, the total trade value is projected to hit 34 billion US dollars. Exports are expected to reach 18 billion US dollars, said Union Minister for Commerce Dr. Than Myint.

“The country needs to increase the quality and quantity of export products. At the same time, the country needs to import capital goods which will help support the long-term economic development,” Dr. Than Myint added.