Myanmar’s foreign trade value falls by nearly $310m in over a month compared to last year
Myanmar has seen its foreign trade value decrease by nearly US$310 million over the past one month in the current mini budget period as both export and import decline, according to the figures released by the ministry of commerce.
The foreign trade value was US$2.553 billion from October 1 to November 5 in the 2021-2022 fiscal year, whereas the same period of the previous fiscal saw up to US$2.863 billion in foreign trade value. In comparison with last year, this year saw a decrease of over US$309.766 million.
From October 1 to November 5 this year, export value was just over US$1.3 billion with a decrease of over US$164 million and import value US$1.25 billion with a decrease of over US$145 million.
Myanmar exports agricultural produce, animal products, marine products, mineral products, forest products, finished industrial products (CMP) and other goods. It imports capital goods, raw materials, consumer goods and CMP raw materials.
According to the annual data released by the commerce ministry, the country’s foreign trade value was US$18,045.929 million in 2012-2013 fiscal year, US$27,714.826 million in 2015-2016, US$29,209.607 million 2016-2017 and US$33,578.052 million in 2017-2018.