Trade value increases by over $ 660 m

Trade value increases by over $ 660 m
Published 4 December 2019

Till November 22 of this fiscal year, the total trade value reached 5.201 billion US dollars, up 660.351 million US dollars compared with the same period last year, according to the figures from the Commerce Ministry. 

During this period, the export value amounted to 2.579 billion US dollars and the import value, 2.621 billion US dollars. There was a trade deficit of 41.844 million US dollars. The trade deficit declined by over 502 million US dollars, compared with  last year’s 544.198 million US dollars. 

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

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, said Dr. Than Myint, Union Minister for Commerce. 

In 2018-19 FY, the total trade value reached 34.979 billion US dollars, exceeding its target by 3.8 billion US dollars, according to the Commerce Ministry.