As import decreases and export increases, Myanmar's trade deficit has decreased by over US$520 million over the past three and a half months this fiscal year, compared to the same period of the previous FY, according to data from the Ministry of Commerce.
The import value from October 1 to January 18 this 2018-2019 FY totalled US$5,447.623 million while the same period of last year saw US$5,602.758 million, causing a decrease of US$155.135 million.
The export sector also saw improvements as the export value was US$3,996.569 million last year and US$4,363.995 million this FY, causing an increase of US$367.426 million.
Therefore, trade deficit decreased by over US$52 million in over three months this year while that of last year hit US$1,606.189 million.
During the 24th annual general meeting of Beans and Pulses and Sesame Merchants Association held on December 29 last year, Union Minister for Commerce Dr Than Myint said efforts would be made to improve both quality and quantity in export sector while trying to ensure sustainable economy in import sector by importing more investment goods.
