Myanmar’s trade value increases in 2016 | Daily Current Affairs 2021

Myanmar’s trade value increases in 2016

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Myanmar’s total foreign trade increased by $1.086 billion in the just-ended fiscal year 2016-2017 from the previous fiscal year 2015-2016, the Ministry of Commerce here said on Tuesday.

The total trade value amounted to $28.801 billion in the FY 2016-17 while that in FY 2015-16 was $27.714 billion, Xinhua news agency reported citing ministry figures.

During 2016-2017, the export value hit $11.620 billion, up from $11.136 billion in 2015-2016, while the trade deficit showed $5.5 billion in 2016-17, also up from $5.4 billion in 2015-2016.

Natural gas, agricultural produces and manufacturing products are the country’s main export items while the capital goods and household goods are mostly imported items.

Myanmar’s major trading partners include China, India, Thailand, Singapore, Malaysia and some European countries.

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