As export increases, foreign trade value over three and a half months of this fiscal year has exceeded US$1.4 billion compared with the same period of last year while trade deficit also fell by over US$670 million, according to the Ministry of Commerce. 

From October 1 to January 10 in the current 2019-2020 fiscal year, total trade value amounted to US$10.443 billion while last year's amount was US$8.953 billion only. So, this year's amount exceeded US$1.489 billion. Increased trade has resulted from increased export. 

Export value in the over three months' period this FY reached US$5.061 billion exceeding over US$1 billion compared to the same period of last FY.  Meanwhile, import value exceeded US$256.723 million. Therefore, the trade deficit was US$256.723 million whereas that of the same period of last year hit US$935.452 million. 

The total trade value is projected to hit 34 billion US dollars with US$18 billion in export in 2019-20 FY, said Union Minister for Commerce Dr Than Myint.   

The minister made the remark after a media question at Myanmar Entrepreneurship Summit 2019 held at Fortune Plaza in Yangon on November 16 last year. 

He 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.

There was a trade deficit of 1.15 billion US dollars in 2018-19 FY though the trade deficit was expected to lower to 500 million US dollars.