Thanks to the great potentials for external trade, the budgeted trade value is projected to exceed last year’s target of 31 billion US dollars, in 2019-20 fiscal year, said Aung Soe, Permanent Secretary of the Ministry of Commerce, at the Global Value Chain and Economic Development, ADB-Asian Think Tank Development Forum 2019, at Park Royal Hotel in Yangon on October 22.
“The ministry is making necessary preparations. Our projection for the annual trade value is over 30 billion US dollars. Last year’s target was 31 billion USD. But the trade value hit over 34.9 billion USD, up around three billion USD. We will strive to increase the external trade value.”
In 2018-19 FY, the total trade value was expected to hit 31.1 billion USD—15.3 billion USD of exports and 15.8 billion USD of imports.
In 2018-19 FY, the total trade value hit 34.979 billion USD, up over 3.8 billion USD, according to the figures from the Commerce Ministry. The export value amounted to nearly 17 billion USD while the import value hit over 18 billion USD.
Myanmar’s major export items are: agro, animal, marine, forest, mining, CMP and other products.
Myanmar imports capital goods, raw materials, personal goods and CMP raw materials.
