As export increases, there has been a deficit of just over US$170 million over the past three months of this fiscal year falling by about US$700 million compared to the same period of last year, according to official figures from the Ministry of Commerce. 

Export value from October 1 to December 20 in the current 2019-2020 FY reached US$4.097 billion while import value amounted to US$4.217 billion. Therefore, trade deficit in about three months amounted to US$173.898 million whereas that of the same period last year hit US$867.274 million. 

During Myanmar Entrepreneurship Summit 2019 held at Fortune Plaza in Yangon on November 16, Union Minister for Commerce Dr Than Myint told the media that trade deficit in the current financial year was expected to be just about US$500 million but he pointed out difficulties and challenges. 

The total trade value is projected to hit 34 billion US dollars in 2019-20 FY and the export sector, to earn 18 billion US dollars, the minister said.