Myanmar-India border trade is down by over 40% for the current fiscal year started October 1st, 2019, due to the temporary closure of border posts due to the COVID-19 pandemic, according to a report by Thura Swiss.
According to the agency, the trade value went down from US$128 million to US$76 million for the same period, a decrease of 40%.
India trades with Myanmar in Mizoram, Manipur, Tamu, Reed, and Thantlang borders. On March 10th, the local government on the Indian side decided to close border gates indefinitely at the Tamu (Sagaing Region) – Moreh (Manipur in India) crossing, Thura Swiss says.
India is the fifth largest export destination for Myanmar and sixth largest source of imports according to figures from the Indian Embassy in Myanmar. Also in March, the two governments had announced plans to import 400,000 tonnes of black gram beans from Myanmar between May 2020 and March 2021, according to the report.