Myanmar-Bangladesh trade up by $180 mln

TRADE between Myanmar and Bangladesh from April to September this year exceeded US$240 million, a significant increase of nearly $180 million from the same period last year, according to monthly data issued by the Ministry of Commerce.

In bilateral trade, Myanmar’s exports exceed imports.

During the six-month period from April to September, Myanmar exported $230 million worth of domestic products to Bangladesh and imported goods amounting to $17.8 million from the South Asian country. Compared with the same period last year, the value of exports between the two countries rose by nearly $176 million, while imports increased slightly by $2 million.

For the same period last year, the total trade between the two countries was valued at $63.813 million, with $53.556 million in exports and $10.257 million in imports.

Myanmar exports goods to Bangladesh through both maritime and land routes. The bilateral border trade is conducted mainly through the Sittway and Maungtaw points of entry.

The products traded between the two countries include bamboos, ginger, peanuts, saltwater prawns and fish, dried plums, garlic, rice, mung beans, blankets, candy, plum jam, footwear, frozen foods, chemicals, leather, jute products, tobacco, plastics, wood, knitwear, and beverages.

The country’s total trade with Bangladesh reached its peak of $192 million in the last 2017-2018 FY. According to data from the Commerce Ministry, the bilateral border trade stood at nearly $44 million in the FY2016-2017, $33 million in the FY2015-2016, $39 million in the FY2014-2015, $75 million in the FY2013-2014, $42 million in the FY2012-2013, and $84 million in the FY2011-2012.

According to the Directorate of Investment and Company Administration, this year saw no new investments from Bangladesh. Last year, Myanmar received $1.5 million in investments from its neighbor.

Swe Nyein

(Translated by Khaing Thanda Lwin)

Ref: The Global New Light of Myanmar