Myanmar’s maritime trade up 19.42pc in over 10 months

• Feb 20, 2023

YANGON (XINHUA) – Myanmar’s seaborne trade surged 19.42 per cent year-on-year (y-o-y) to about USD22.24 billion in over 10 months of the 2022-23 fiscal year beginning in April last year, official data showed on Saturday.

From April 1 last year to February 10 this year, the country’s maritime export rose 10.21 per cent to over USD9.22 billion from a year earlier, while maritime import climbed 26.94 per cent to over USD13.01 billion, data from the country’s Ministry of Commerce showed. During the period, the country saw a total foreign trade value of over USD29.33 billion, including its border trade value of more than USD7.09 billion, the ministry’s figures showed.

The Southeast Asian country usually does most of its foreign trade through sea routes as it has a long coastline. It conducts border trade with China, Thailand, Bangladesh and India.

The country exports agricultural products, animal products, fisheries, minerals and forest products, manufacturing goods and others, while it imports capital goods, intermediate goods and consumer goods.