Muse border trade down by US$487 mln as of 11 Nov

The value of trade between Myanmar and China via the Muse land border as of 11 November 2021 of the current mini-budget period (October 2021 – March 2022) showed a drastic drop of US$487 million owing to the border trade suspension, according to the Ministry of Commerce.
The value of the Muse border trade touched a low of $95 million over the past month amid the COVID-19 impacts. The figures plummeted from $582.399 million recorded in the year-ago period, according to the Ministry of Commerce.
As of 11 November, Myanmar’s exports to China through the Muse land border were valued at $93.633 million, while imports are worth $1.53 million. The trade showed a slump in both exports and imports compared to the corresponding period of last year.
China has closed down the border posts (Kyinsankyawt, Wamting) from 8 July 2021 following the COVID-19 cases in Myanmar.
On 30 March, Mang Wein, which is a major border crossing between Muse and Kyalgaung areas, was suspended owing to the COVID-19 cases. On 1 April, Nantaw and Sinphyu border posts were suspended operations. As a result of this, the border trade between Myanmar and China was completely halted.
The closure of the Sino-Myanmar border trade resulted in job loss of about 400,000-600,000 workers engaged in the Muse border post. Furthermore, the short-haul trucks from Muse to China were also affected by this consequence. Additionally, traders from Muse border post were also battered by trade suspension, stopping the tax revenue.
Nonetheless, China will give the green light to the items stockpiled at the warehouses and the Kyalgaung checkpoint, China to be imported into Myanmar soon, in line with the Standard Operating Procedures (SOPs).
Myanmar exports agricultural products, including rice, beans and corns, and fishery products such as crab, prawn, etc. Furthermore, Myanmar’s natural gas export to China is also conducted through the Muse-Ruili border. The raw CMP materials, electrical appliances and consumer goods are imported into the country. — KK/GNLM