Trade deficit hit US$1.4 billion in past three months

Myanmar’s trade deficit reached US$1.4 billion in the past three months, according to the Commerce Ministry. External trade from 1 April to 30 June this was an estimated $7.7 billion. Exports were worth $3.2 billion and imports were $4.6 billion. Myanmar’s export market includes extractives including minerals, natural gas, agriculture and fisheries products. Agribusiness plays […]

Thousands of car imports approved

A new government-led supervisory committee has released around 14,000 cars that had been held at Myanmar’s borders after an informal ban on vehicle imports was imposed last December. When the last vehicle import supervisory committee was disbanded at the end of last year, thousands of cars bound for Myanmar were held up, commerce minister U […]

Tin shipments from Myanmar declined in July

The shipments of tin ore and concentrate from Myanmar to China declined slightly during the month of July this year. The customs data indicates that Chinese imports from Myanmar during the month totaled 20,095 tonnes in gross weight. BEIJING (Scrap Monster): The Chinese imports of tin ore and concentrate from Myanmar witnessed marginal decline during […]

China-Myanmar crude pipeline opens: Chinese state media

[BEIJING] A pipeline pumping oil from Myanmar to China started a trial operation on Wednesday, Chinese state media reported, Beijing’s latest step to diversify energy imports into the world’s second-largest economy. The 771 kilometre (478 mile) pipeline will connect the world’s top crude buyer with a deep-water port in western Myanmar, reducing China’s dependence on […]

Myanmar imports about 85 pct of western medicines from neighboring countries last year

YANGON, Jan. 24 (Xinhua) — Myanmar has imported about 85 percent of western medicines from its neighbors and other countries in 2014, according to Myanmar Pharmaceutical and Medical Equipment Entrepreneurs Association (MPMEEA) on Saturday. Myanmar’s imported percentage of western medicine products would remain unchanged this year, the association said. Over 50 percent of imports come […]

Trade deficit to rise but inflation the concern

The trade deficit will reach K4 trillion (US$3.9 billion) by the end of next financial year, says Minister for National Planning and Economic Development U Kan Zaw. Inflation is also pegged to average 6.83 percent in 2015-16 compared year-on-year, though could rise as high as 8.11pc by March 2016, he added. U Kan Zaw revealed […]

Myanmar’s Rising Imports Drive Overall Trade Boost

YANGON — Myanmar’s total trade volume this fiscal year is expected to rise by least US$5 billion compared with the previous 12 months, government data show, but economists warn that a rising trade deficit threatens to undermine that growth. In the nine months from April 1, 2014, to Jan. 2, the total trade volume reached […]

Used car imports through Myawaddy border up

Official imports of motorcars through Friendship Bridge in Myawaddy border have increased and mostly include cars used for tour transportation like mini-buses and pick-up trucks. “A car that will be imported to Myanmar needs Customs clearance document from Thailand and document from Road Transport Administration Department of Thailand. The car bought officially from Thailand might […]

Muse border generates US$3 bn in trade with China

YANGON – Myanmar’s trade with China through the Muse border trading camp was valued at approximately US$3 billion this fiscal year, according to the Directorate of Commerce and Consumers’ Affairs. This number marks a spike of over $656 million in trade since last fiscal year. Myanmar exports to China were valued at over $2 billion […]

Chennai set to retrace old Myanmar business route

CHENNAI: The Union shipping ministry is likely to launch a cargo ferry service soon between Chennai and Yangon (Myanmar). Official sources said the service will open a sea route to largely land-based trade that is already worth billions of dollars. For Tamil Nadu, however, the opening of a sea route will re-establish economic ties that […]