Overseas trade at US$19.9 billion

06 May 2019
Overseas trade at US$19.9 billion
Ships dock at the port in Yangon. Photo: EPA

Myanmar’s overseas trade stood at US$19.9 billion as of 26 April this 2018-2019 Fiscal Year, up by nearly $700 million from that of the corresponding period last 2017-2018 FY, when the country’s external trade totalled $19.2 million, state media reported.

During seven months, the country’s export of domestic products topped $9.6 billion, whereas its imports of foreign goods exceeded $10.3 billion, resulting in a trade deficit of $700 million, which decreased by over $1.7 billion, as against the same time last FY, when Myanmar recorded a trade deficit of $2.4 billion.

When compared with last FY, the current import value declined by over $500 million from both border and non-border trade, however, the current export valued went up by nearly $1.2 billion.