Tue, 16 Aug 2022

Myanmar's foreign trade up 18.19 pct yoy in Q1

Xinhua
08 Jul 2022, 02:05 GMT+10

YANGON, July 7 (Xinhua) -- Myanmar's total goods imports and exports surged 18.19 percent year on year to over 7.62 billion U.S. dollars in the first quarter of the 2022-2023 fiscal year started on April 1, official data showed Thursday.

The Southeast Asian country changed its fiscal year from the original October-September to April-March beginning this year.

From April 1 to June 24 this year, exports increased 18.34 percent from a year earlier while imports climbed 18.04 percent, the Ministry of Commerce's figures showed.

Despite the total trade surge, the country's border trade decreased 15.54 percent year on year to over 1.719 billion U.S. dollars amid the COVID-19 pandemic.

Most of the country's trade with foreign countries is usually done through sea routes as the country boasts a long coastline. Its border trade is conducted with neighboring China, Thailand, Bangladesh and India.

The country exports agricultural products, animal products, fisheries, minerals and forest products, manufacturing goods and others to foreign countries while capital goods, intermediate goods and consumer goods are imported into the country.

Sign up for Myanmar News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!