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Sino-Myanmar border trade falls by $562 mln in Q1

The value of Sino-Myanmar border trade between 1 October and 4 January totalled US$1.24 billion, a decrease of $562.8 million compared with the corresponding period of the previous financial year, according to data from the Ministry of Commerce.

Border trade stood at $1.8 billion in the same period of the 2017-2018 fiscal. The drop in trade in the current fiscal year can be attributed to China’s trade suspension and tight confiscation on the border coupled with the closure of the Kyin San Kyawt gate near Muse.

Myanmar conducts border trade with China through the Muse, Lweje, Chinshwehaw, Kanpiketee, and Kengtung gates. Of them, the Muse gate sees the largest trade volume. Since the second week of October, China has suspended importation of some agro products. This has resulted in a steep fall in trade at Muse.

In Q1 of the current FY, the Muse, Lweje, and Chinshwehaw gates suffered a drop in trade value, while the remaining two gates registered a small increase in trade.

Trade between China and Myanmar totalled $1 billion at Muse, $43.4 million at Lweje, $163.58 million at Chinshwehaw, $28 million at Kanpiketee, and $1 million at Kengtung.

Myanmar exports rice, sugar, pulses, sesame seeds, corn, dried tea leaves, fishery products, minerals and animal products to China, and imports agricultural machinery, electrical appliances, iron and steel-related materials, raw industrial goods, and consumer goods.

SOURCE: GLOBAL NEW LIGHT OF MYANMAR

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