Myanmar’s foreign trade surges beyond US$18 bln in last seven months

MYANMAR’s external trade amounted to over US$18 billion as of 3 November in the current financial year 2023-2024 beginning 1 April, according to the Ministry of Commerce.

Myanmar’s export was worth over $8.664 billion whereas the country’s import was valued at $9.7 billion between 1 April and 3 November.

Myanmar’s seaborne trade value crossed over $13.12 billion this FY, while border trade was valued at $5.32 billion.

The trade figure over the past seven months shrank from $20.5 billion recorded in the corresponding period last FY, indicating a sharp drop of over $2.078 billion.

Myanmar exports agricultural produce, animal products, minerals, forest products, and finished industrial goods, while it imports capital goods, intermediate goods, raw materials imported by the CMP enterprises and consumer goods.

Myanmar has been implementing the National Export Strategy (NES) 2020-2025 to bolster exports. The priority sectors of the NES comprise agricultural production, garment and apparel, industrial and electronic device, fishery business, forest product, digital manufacturing and service, logistic service, quality management, trade information service, innovation and entrepreneurship sectors.

— NN/EM

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