Imports increase $1.5 billion

16 March 2020
Imports increase $1.5 billion
Ships dock at the port in Yangon. Photo: EPA

The value of Myanmar’s imports between 1 October and 6 March in the current fiscal year stood at US$9.18 billion, an increase of $1.5 billion from $7.65 billion registered in the year-ago period, according to data released by the Ministry of Commerce, state media reported.

The value of imports in the consumer, capital, intermediate goods, and CMP businesses groups rose significantly in the current fiscal. Over the past five months, capital goods, such as auto parts, vehicles, machines, steel, and airplane parts were brought into the country. Their import value was estimated at $3.5 billion. The figure was $1.09 billion higher compared to the same period in the previous FY.

Meanwhile, Myanmar imported consumer products worth $1.54 billion, including pharmaceuticals, cosmetics, and palm oil. The imports of consumer products showed an increase of $111.5 million compared with the same period in the previous FY.