Trade surges 30%, but deficit widens: commerce ministry

From April 1 to September 26, the total value of trade was $13.45 billion, with exports at $5.37 billion and imports at $8.07 billion. 

In the same period of last year, total trade was $10.08 billion, comprising $4.66 billion in exports and $5.41 billion in imports. 

The ministry said the rise was partly due to its crackdown on illegal trade over, land, sea and air routes. It formed a central committee to combat illegal trade, which uses mobile inspection teams to monitor border trade points.

Myanmar major trading partners are China, Thailand, Malaysia, India, Singapore, Japan, South Korea, Germany, Hong Kong, Indonesia, the United States and the United Kingdom.

Myanmar primarily exports natural gas, agricultural and fishery products, and minerals, while it imports consumer products, machinery and vehicles. Garment exports are beginning to rise and are expected to surge within three to five years on the back of duty-free and quota-free access to the European Union and a migration of factories from China – where labour costs are rising – to Southeast Asia.