Myanmar's foreign trade reaches over 7.6 bln USD in Q1 of FY 2020-21

Source: Xinhua| 2021-01-09 18:33:23|Editor: huaxia

YANGON, Jan. 9 (Xinhua) -- Myanmar's foreign trade has reached over 7.6 billion U.S. dollars in the first quarter of present fiscal year (FY) 2020-2021 starting in October last year, according to the figures released by the Commerce Ministry on Saturday.

From Oct. 1, 2020 to Jan. 1 this year, the country has earned over 3.68 billion dollars from exports while its imports valued over 3.92 billion dollars.

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

During the first quarter of this FY, Myanmar's maritime trade totaled over 5.29 billion dollars while its border trade amounted over 2.3 billion dollars.

The total foreign trade in the three-month period of current FY saw a significant decrease by over 2.3 billion dollars, compared to the corresponding period of last FY 2019-2020 when it was 9.9 billion dollars.

The trade deficit registered at 234.5 million dollars in the first quarter of present FY 2020-2021, up from 89.2 million dollars in the same period of last FY.

Myanmar's main exports included agricultural products, animal products, marine products minerals, forest products, manufacturing goods and others while importing included capital goods, intermediate goods and consumer goods.

As of Jan. 1, manufacturing products topped the list of exports by earning over 1.71 billion dollars, followed by agricultural products with 1.24 billion dollars and minerals with over 317 million dollars, the figures showed. Enditem