Myanmar-East Asia trade exceeds $10 billion this FY

February 20, 2018

The value of external trade between Myanmar and East Asian countries in the first nine months of this fiscal year (FY) reached US$10.677 billion, according to the monthly report of the Ministry of Commerce.

The value of the total bilateral trade included $4.966 billion from exports and $5.71 billion from imports. In November alone, the Myanmar-East Asia trade was worth $1.318 billion, including exports worth $4.269 and imports worth $5.089.

China is ranked first among the top three East Asian trade partners of Myanmar, with trade between them valued at $8.525 billion, including $3.734 billion through non-border trade and $4.79 billion through border trade. China was followed by Japan with $1.38 billion worth of trade and Taiwan with $128 million.

Bilateral trade with the Republic of Korea stood at more than $570 million, while trade with the Democratic People’s Republic of Korea was lower than $0.2 million. Trade with Hong Kong exceeded $70 million.

Normally, Myanmar exports a wide variety of agricultural products, dried and fresh marine products, minerals and industrial finished goods. Major products that are imported include consumer goods, electronic devices, capital goods, automobile and accessories, and intermediate goods.

The value of trade with East Asian countries topped $14.026 billion last FY, while bilateral trade has increased each year. According to the yearly reports of the ministry, Myanmar-East Asia trade was worth $6.603 billion in the 2011-2012 FY, $7.150 billion in the 2012-2013 FY, $10.971 billion in the 2013-2014 FY, $13.262 billion in the 2014-2015 FY and $13.847 billion in the 2015-2016 FY.

Shwe Khine

Ref; The Global New Light of Myanmar