Myanmar’s bilateral trade with regional countries tops $5.59 bln in five months (Apr-Aug)

The value of Myanmar’s regional trade with ASEAN member states by sea and land border amounted to US$5.59 billion during the April-August of the 2022-2023 financial year, according to the Ministry of Commerce.
Myanmar trade deficit in goods with ASEAN trade partners was worth US$1.74 billion in the first five months this FY, with exports reaching over $1.927 billion and imports valued at over $3.667 billion, the statistics issued by the Ministry of Commerce indicated.
Since April, Thailand has been Myanmar’s largest trade partner in ASEAN, with trade valued at over $2.427 billion, followed by Singapore ($1.795 billion), Indonesia ($535 million) and Malaysia (over $493.65 million). Viet Nam has emerged as the nation’s fifth largest trade partner, with bilateral trade estimated at $222.568 million.
Meanwhile, Myanmar’s bilateral trade with the Philippines was $86.433 million and Cambodia $3.086 million, while trade with Brunei stood at $30.166 million, and Laos, less than $1 million.
Myanmar’s main export items included agricultural produce and fishery products, as well as minerals, while imports included food and beverages, electronic goods, motor vehicles, and consumer goods.
Apart from its main trade partner China, Myanmar’s external trade was mostly carried out with the regional trade partners. Trade with countries in the European Union, however, remained uncompetitive, compared with regional trade partners.—KK/GNLM