In around three and half months of 2018-2019 fiscal year, there is a trade deficit of over 1083.628 million USD, according to the figures from Ministry of Commerce.
From October 1, 2018 to January 18, 2019, the total external trade hit 9811.618 million USD, up 212.291 million compared with the same period last year.
The export earnings hit over 4363.995 million USD while the country imported 5337.623 million USD.
During the mini budget period from April to September, 2018, the total trade volume hit a record high of around 18.4 billion USD, up over two billion USD compared with the same period last year.
Myanmar mainly exports agro products, animal products, marine products, forest products, mining products, industrial finished products and other products.
Myanmar imports construction materials, oil products, machines and machinery equipments, raw materials, fertilizers, capital goods, raw materials and personal goods.
In a bid to lessen the trade deficits, the commerce ministry is working to lay down the National Export Strategic Development Plan, reduce the relaxations, encourage the private sector, encourage the exports of value-added products and enable entrepreneurs to expend the export market through the tax relief like the GSP right.
