Myanmar's foreign trade deficit registers 1.05 bln USD in FY 2018-19

Source: Xinhua| 2019-06-22 14:28:48|Editor: Shi Yinglun
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YANGON, June 22 (Xinhua) -- Myanmar registered 1.05 billion U.S. dollars of trade deficit as of June 14 in present fiscal year (FY) 2018-2019, according to the Commerce Ministry on Saturday.

From October 2018 to June 14 this year, the country's export value reached 11.8 billion U.S. dollars while its import totaled 12.9 billion U.S. dollars, registering a total foreign trade to 24.7 billion U.S. dollars.

This FY's total trade deficit showed a significant decrease by over 2 billion U.S. dollars, compared to the same period of last FY 2017-2018 when it was over 3 billion U.S dollars.

In the same period of last FY 2017-2018, total foreign trade amounted to 24.4 billion U.S. dollars, with 10.7 billion U.S. dollars' export and 13.7 billion U.S. dollars' import.

The country mainly exports agricultural products, animal products, fisheries, minerals, forest products, finished industrial goods to foreign countries while imports capital goods, intermediate goods and consumer goods.

The trade authorities are exerting efforts to boost the country's exports as well as to reduce the imported luxury commodities to decrease the trade deficit.