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Import exceeds export in current fiscal year

Myanmar sees the international trade through land and sea routes amounted to US$7.8 billion from April 1 to July 25 with about $1 billion trade deficit, according to the Ministry of Commerce.

The trade volume increased $1.9 billion in comparison to the same period last year.

The country earned $3 billion for exporting agricultural produce, marine products, livestock, wood products, manufacturing products and other materials. Its imports of raw materials and consumer goods totalled $4 billion.

To facilitate the trade sector, the ministry will form the information network system to ensure the accuracy of trade figures, establish the import-export bank, extend the joint trade committee, open trade training school, trade representation offices and wholesale centres.

The establishment of MYAN TRADE is on the drawing board for boosting exports. The ministry is studying to emulate on export promotion strategies in regional countries.

Source: ELEVEN MYANMAR

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