Myanmar’s cross border trade with China exceeds US$ 5.26 bln in 11 months of current FY

Myanmar’s border trade with China saw a decrease of US$ 188 million between 1 October last year and late August this current financial year. The border trade between Myanmar and China through five border checkpoints was over US$5.26 billion in the current budget year, which plunged from US$5.45 billion recorded in the corresponding period of last year. The border trade between Myanmar and China reached US$4.35 billion through Muse, US$128.6 million via Lwejel, US$491.83 million via Chinshwehaw, US$279.86 million via Kampaiti, and over US$ 4.94 million via Kengtung. The ministry’s data showed a slight drop in trade value via all border trade camps between Myanmar and China, except Chinshwehaw.

A large portion of Myanmar’s overland trade with China goes through Muse border. China has been stepping up border control measures to curb the spread of the deadly coronavirus infection.The transport delays caused damage to the quality of the goods and doubled the truck fares and the growers and traders are suffering huge financial losses amid the virus. In an effort to promote bilateral trade between Myanmar and China, the two countries have been organizing trade exhibitions, seminars and workshops on a rotating basis. The two countries are making concerted efforts to create more border economic zones and boost border trade. Border trade between Myanmar and China has seen a significant growth over the past couple of years. Bilateral trade volume between the two neighbors through the border checkpoints is around US$490 million per month.

China is the largest trading partner as well as one of the most important sources of investment for Myanmar. China’s investment in Myanmar from 1988 to date was worth nearly US$21 billion which is equivalent to about 25 per cent of total FDI in the country. The largest sector of China’s investment flowed to electricity generation sector, accounting for 63 per cent, followed by the oil and gas, and mining sectors with 36 per cent and the other sector with 1 per cent. The border trade between Myanmar and China was US$5.936 billion in the financial year 2015-2016, amounted to US$5.967 billion in the financial year 2016-2017, declined to US$4.7 billion in the financial year 2017-2018, and was recorded US$ 2.5 billion during the six month interim period prior to the next financial year 2018-2019. Myanmar’s bilateral trade with China was US$10.9 billion in 2015-16 FY, US$10.8 billion in 2016-2017 FY, US$11.78 billion in 2017-2018 FY, and US$11.36 billion in 2018-2019 FY.

Source: The Global New Light of Myanmar

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