There has been a trade deficit of just about US$630 million over the past four months of this fiscal year falling by about US$450 million compared with the same period of last fiscal year, according to figures from the Ministry of Commerce.  

From October 1 to January 24 in the current 2019-2020 fiscal year, export value amounted to US$5.717 billion and import value US$6.344 billion. So this year's deficit is US$627.226 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 amount is not that large. Trade value is expected to be about US$34 billion. Export value is estimated to be about US$18 billion," the minister said. 

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 the 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.