Myanmar records trade surplus of $109.633 million in current fiscal year

Myanmar records trade surplus of $109.633 million in current fiscal year
Published 23 June 2024

According to statistics released by the Ministry of Commerce, Myanmar's foreign trade sector generated a trade surplus of US$109.633 million by June 14 of the current fiscal year.

From April 1 to June 14 of the 2024-2025 fiscal year, Myanmar's exports were valued at  $2,919.539 million, while imports amounted to $2,809.906 million, resulting in a total trade volume of $5,729.445 million. Among these, exports exceeded imports by $109.633 million, leading to the reported trade surplus.

For the fiscal year 2022-2023, from April 1 to March 31, Myanmar's total trade volume was $33.925 billion, an increase from the previous year's $30.351 billion. This indicates that the 2022-2023 fiscal year saw an increase in foreign trade activities by $3.573 billion compared to the previous year, according to the Ministry of Commerce.

During that period, the total value of exports reached $16.575 billion, an increase of $1.084 billion from the previous year. Similarly, the total value of imports was $17.349 billion, an increase of $2.489 billion from the previous year.

Myanmar exports agricultural products, animal products, aquatic products, mineral products, forest products, industrial products, and other goods to foreign countries. The main imports include capital goods, industrial raw materials, consumer goods, and CMP (Cutting, Making, and Packaging) raw materials.

To boost exports, Myanmar is implementing the National Export Strategy (NES) 2020-2025. The key priority sectors under this strategy include the agricultural and food processing sector, textile and garment sector, industrial and electrical equipment sector, fisheries sector, forest products sector, digital products and services sector, logistics services sector, quality management sector, trade information services sector, and innovation and entrepreneurship sector.

In the 2020-2021 fiscal year from October to the end of September, Myanmar's foreign trade volume amounted to $29.585 billion, with exports valued at $14.927 billion and imports at $14.658 billion.

In the 2019-2020 fiscal year from October to September, the value of exports was $17681.087 million, and the value of imports was $19050.855 million, resulting in a total trade volume of $36731.942 million.

In the 2018-2019 fiscal year, exports were valued at $17060.415 million, and imports at $18086.597 million, resulting in a total trade volume of  $35147.012 million.

During the 2018 mini-budget period, exports were valued at $8861.032 million, and imports at $9866.502 million, resulting in a total trade volume of $18727.534 million.

In the 2017-2018 fiscal year, exports were valued at $14883.160 million, and imports at $18649.892 million, resulting in a total trade volume of $33578.052 million.