A file photo shows trucks run near 105-mile Muse border Trade Zone, northern Shan State. Photo: Phoe Khwar
The value of exports through normal trade as of 23rd December is up by US$397.177 million, whereas that through border trade is down by $89.791 million when compared to the similar period of last fiscal year, according to Commerce Ministry statistics.
The export value through normal trade as of 23rd December hit $4,886.635m, but border trade was $3,101.392m, it is learnt.
The external trade value as of 23rd December in this fiscal year amounted to $19,175.444m, which is down from $19803.95mil in the last fiscal year, with a total export value of $7,988.027m and an import value of $1,1187.417m. In the similar period of the last fiscal year 2015-2016, the total export value was $7,680.641mil and the import value was $12,123.309mil.
The drop in trade value this year is attributed to government efforts in trying to reduce imports, except for essential items, in a bid to reduce the trade deficit, according to the second five-year National Development Plan. The import value exceeded the export value, resulting in nearly $3,200m in trade deficit.
Myanmar is currently conducting border trade with neighbouring countries through these border trade camps: Muse, Lweje, Chin Shwe Haw, Kan Pike Tee, Kengtung, Tachilek, Myawady, Kawthaung, Myeik, Htee Khee, Maw Taung, Maese, Sittway, Maung Taw, Tamu and Reed.
The border trade value as of 23rd December in this FY was down by $15.318mil compared to last FY, slumped by $407.046mil in Muse, $7.196mil in Keng Tung, $8.484mil in Kawtahung, $0.560mil in Htee Khee and $1.252mil in Sittwe. The remaining border trade camps managed to boost their trade value.—Mon Mon