trade-deficit

Myanmar: Trade deficit widens in first half of 2017-2018

  • Oct 10, 2017
Myanmar’s trade deficit for the first six months of the 2017-18 fiscal year has widened to $2.2 billion compared to $1.8 billion during the same period in the previous FY, data by the Ministry of Commerce showed. 

Exports from April 1 to September 22 amounted to $6.5 billion while imports totaled more than $7billion.  

Trade during the period included $2.1 billion from Myanmar’s borders, which is $8 million less than last year, according to government reports.

Notably, imports from Thailand to Myanmar through the Myawady border trade camp amounted to $377 million during the first half of the FY, which is a decrease of $14 million compared to the same period last year. 

Myanmar imports a wide range of consumer products, food, soft drinks, cooking oil, plastic ware and cosmetics from Thailand. It exports mainly marine and agriculture products to Thailand. 

In FY2016-17, Myanmar’s trade deficit amounted to $5.5 billion, which is up from $5.4 billion in FY2015-16 and $4.1 billion in FY2014-15.

Source: https://www.mmtimes.com/news/trade-deficit-widens-first-half-2017-2018.html