Myanmar's foreign trade reaches over 24 bln USD in 8 months

Source: Xinhua| 2020-06-04 16:38:59|Editor: huaxia

YANGON, June 4 (Xinhua) -- Myanmar's foreign trade reached over 24.5 billion U.S. dollars in the first eight months of the present fiscal year (FY) 2019-2020, according to figures released by the Commerce Ministry on Thursday.

From Oct. 1, 2019 to May 22, 2020, the export value registered over 11.5 billion U.S. dollars while the import value was over 13 billion U.S. dollars.

The country's trade deficit of present FY was over 1.52 billion U.S. dollars, up from over 874 million U.S. dollars compared to the corresponding period of the last FY.

During the eight-month period of the current fiscal year, Myanmar's manufacturing goods were exported with value of over 5.98 billion U.S. dollars while over 5 billion U.S. dollars worth of capital goods were imported to the country, the ministry's figure showed.

Myanmar's agricultural products, animal products, marine products minerals, forest products, manufacturing goods and others are exported while the country imports capital goods, intermediate goods and consumer goods.

About 80 percent of the country's foreign trade is done through sea route and its border trade is conducted with neighboring China, Thailand, Bangladesh and India. Enditem