Myanmar's individual border trade reaches 32.6 mln USD in FY 2018-19

Source: Xinhua| 2019-07-20 18:41:31|Editor: Shi Yinglun
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YANGON, July 20 (Xinhua) -- Myanmar's trade using Individual Trading Cards (ITCs) through border gates reached over 48.9 billion kyats (32.6 million U.S. dollars) in over nine months of present fiscal year 2018-2019, said the figures from the Commerce Ministry on Saturday.

From October 1, 2018 to July 5 this year, the country's border export using ITCs earned 41.1 billion kyats (27.4 million U.S. dollars) while its import shared 7.8 billion kyats (5.2 million U.S. dollars).

During the period, Myawady border gate saw the largest trade value of 26.4 billion kyats (17.6 million U.S. dollars) via ITCs among checkpoints from where Myanmar conducts border trade.

At present, the country is conducting border trade with neighbouring China through Muse, Lweje, Kanpikete, Chinshwehaw and Kengtung, with Thailand via Tachilek, Myawady, Kawthoung, Myeik, Hteekhee, Mawtaung and Maese gates, with Bangladesh via Sittwe and Maungtaw and with India through Tamu and Reed border gates, respectively.

So far, the Commerce Ministry has issued a total of 1,652 ITCs since FY 2012-2013, totaling the trade value of over 159 billion kyats (106 million U.S. dollars).

Myanmar's agricultural products, animal products, fisheries, minerals and forest products are mainly exported to foreign countries while capital goods, intermediate goods and consumer goods are imported into the country.