Myanmar foreign trade soars to over $17 bln in H1

Myanmar’s external trade in the first half of the 2022-2023 Financial Year tremendously edged up to US$17.08 billion, reflecting a sharp increase of $3 billion as against the year-ago period, according to the Ministry of Commerce.

The figures surged from $14.078 billion in the corresponding period last year. Myanmar’s export was worth over $8.56 billion whereas the country’s import was valued at $8.52 billion over the past two months. The border trade dropped owing to China’s strict virus rules and security in transport amid the political changes, with a decrease of $89.8 million in cross-border trade as against the year-ago period.

However, the maritime trade registered a significant rise of $2.257 billion in nearly four months. The external trade stood at $15.5 billion in the past mini-budget 2021-2022 (Oct-March) period and $29.58 billion in the 2020-2021 FY, as per the Commerce Ministry’s statistics.

Source: The Global New Light of Myanmar