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Exports to Japan cross $582 mln in seven months

The value of export to Japan in the past seven months (October-April) of the current financial year 2020-2021 touched about US$582.2 million while import was valued only at $231.87 million, according to the data of the Ministry of Commerce. The value of trade between Myanmar and its development partner Japan exceeded over $817 million in the current FY. Myanmar’s export items to Japan are garments, marine products, rice, black sesame, green grams, rubber and other products.

In return, it imported machines and machine equipment, electronic equipment, fertilizers, chemical products, medicines, automobiles, and other products. Bilateral trade values have registered $1.92 billion in the last FY2019-2020, $1.89 billion in the FY2018-2019, $1 billion in the 2018 mini-budget period, $1.92 billion in the 2017-2018FY, $2 billion in the 2016-2017FY and $1.84 billion in the 2015-16FY, respectively.

This FY, three enterprises from Japan were approved to make initial investments of $518 million into the country, according to the data of the Directorate of Investment and Company Administration (DICA). Japan has made up over 34.7 per cent of total FDIs in the Thilawa Special Economic Zone. The Japan International Cooperation Agency (JICA) offers loans such as ODA loans and two-step loans intending to bring about socio-economic development in Myanmar.

Source: The Global New Light of Myanmar

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