Foreign trade value reaches US$13 billion, with over 1.7 billion in deficit

The external trade value as of 7th October in this fiscal year hit over US$13 billion, with a trade deficit of over 1.7billion, it is learnt from statistics of the Ministry of Commerce. The value of foreign trade from 1st April to 7th October in this fiscal year amounted to US$13,607.140million, which was down from […]

Trade Figures Disappoint; Domestic Uncertainty to Blame

Disappointing trade numbers released this month are due to border conflict and uncertainty over the minimum wage and currency devaluation, according to officials from the Ministry of Commerce. In 2015-16 fiscal year until June, maritime trade stood at $4.34 billion and border trade at $1.43 billion, for a total of over $5.77 billion of foreign […]

Central Bank Bites Down on Dollar Use, But Does it Have Teeth

The Central Bank of Myanmar (CBM) has recently issued a notice that requires businesses and government agencies to use Kyat for payments inside Myanmar, even for foreign investors. This move is intended to raise the value of the Kyat by restricting foreign currency use for internal payments, according to a CBM official. The currency has […]

Myanmar trade deficit rises

YANGON – Myanmar’s quarterly trade deficit reached over US$1.4 billion (45.5 billion baht), as the economy continues to open up to foreign investment, the government said Wednesday. The value of exports — including oil, gas and timber — during April-June was more than $2.2 billion, but $3.6 billion was spent on imports, the Central Statistical […]