Myanmar’s regional trade hits US$2.25 billion

Workers unload cement from a ship at Yangon port in Yangon. Photo: EPA

Regional trade between Myanmar and its ASEAN neighbours through sea routes and border gates amounted to US$2.25 billion in the first two months of the six-month interim period prior to the 2018-2019 fiscal year, state media reported.

Imports in regional trade surpassed exports, with exports totaling $688 million and imports amounting to $1.56 billion, according to statistics released by the Ministry of Commerce. Thailand was ranked first among ASEAN countries in terms of trade with Myanmar, with trade value between the two neighbours totaling $845 million, followed by Singapore with a trade value of $740.7 million. Malaysia was listed third with a trade value of $365.5 million, while Indonesia stood fourth with an estimated value of $166.322 million.

Myanmar’s trade with Viet Nam reached over $123.7 million. The value of bilateral trade with the Philippines stood at $11.421 million, while trade with Cambodia reached $2.450 million. Trade between Myanmar and Laos was valued at less than one million dollars, while no bilateral trade was recorded between Myanmar and Brunei in the last two months.

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