Myanmar's foreign trade reaches over 16 bln USD in 5 months

Source: Xinhua| 2020-03-06 20:22:41|Editor: xuxin
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YANGON, March 6 (Xinhua) -- Myanmar's foreign trade reached over 16.3 billion U.S. dollars in first five months of present fiscal year (FY) 2019-2020, the Commerce Ministry said on Friday.

From Oct. 1, 2019 to Feb. 28 this year, the country earned over 7.6 billion U.S. dollars while its import hit over 8.6 billion U.S. dollars.

Myanmar mainly exports agricultural products, animal products, marine products, minerals, forest products and manufacturing goods while capital goods, intermediate goods and consumer goods are imported to the country.

Of the export products, manufacturing goods were mostly exported during the five-month period, earning 4.3 billion U.S. dollars while capital goods topped the list of import with 3.2 billion U.S. dollars' value.

About 80 percent of Myanmar's foreign trade is done through sea-borne trade and its border trade is being conducted through 17 border gates with four neighboring countries -- China, Thailand, India and Bangladesh.

As of Feb. 28, the country's maritime trade totaled over 11.7 billion U.S. dollars while its border trade reached over 4.5 billion U.S. dollars, according to the ministry's figures.

This fiscal year's total foreign trade increased by 2.2 billion U.S. dollars, compared to the same period of last fiscal year 2018-2019 when it was valued over 14 billion U.S. dollars.