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Singapore ranked Myanmar’s second-largest importer in FY2020-2021

Singapore is the second-largest importer of Myanmar in the financial year 2020-2021, with an estimated value of US$2.6 billion, the Ministry of Commerce data showed. During the previous FY, the value of Myanmar’s bilateral trade with Singapore in normal trade and border trade topped $2.8 billion.

The Ministry of Commerce reported that imports surpassed exports in trade with Singapore, with exports reaching $207.4 million and imports valued at over $2.6 billion. Myanmar trade deficit in goods with Singapore was estimated at $2.39 billion. Singapore is Myanmar’s second-largest trading partner in the region, after Thailand.

Myanmar exports agricultural products, footwear, textiles and clothing, minerals, and animal products to Singapore, while it imports plastics, fuel oil, capital goods, intermediate goods, consumer products, metals, and chemicals. Myanmar’s bilateral trade with Singapore has registered $3.8 billion in the 2019-2020FY, $3.5 billion in the 2018-2019FY, $1.99 billion in the 2018 mini- budget period, $3.83 billion in the 2017-2018FY, $2.96 billion in the 2016-2017FY, and $3.69 billion in the 2015-2016FY.

Source: The Global New Light of Myanmar

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