Mizzima

Bilateral trade between India and Myanmar increased over previous years for the 2021-22 financial year, despite economic sanctions being imposed on Myanmar by western countries.

According to Indian Government trade figures, the combined trade was worth $1.89 billion, the highest it has been for five years.

Officially, the border gates on the India/Myanmar border were shut to trade in March 2020 due to the COVID-19 pandemic. Despite this, border trade continued as normal throughout the official closure, according to the Tamu-Kale Border Trade Association.

During the 2021-22 financial year, Myanmar exported goods worth over $800 million USD to India, with the most exported items being rice, pulses and beans, timber, forest products, fruits, cereals and nuts.

During the same period, India exported goods worth nearly $1 billion to Myanmar, with the most exported items being pharmaceuticals, medical products, electronics, electrical appliances, cotton and machinery.

According to the Indian Government under the country’s ‘Neigbourhood First Policy’ the combined trade between India and all its land neighbours amounted to $41.6 billion USD for the same period.