Oct 28, 2012

Myanmar foreign trade nears 9 bln USD in 6 months of FY 2012-13

Myanmar's foreign trade hit nearly 9 billion U.S.dollars in the first half of the fiscal year 2012-13, which began in April, down nearly 1 billion dollars from the same period of the fiscal year 2011-12, local media reported Tuesday.

During the six months' period, the export reached 4.64 billion dollars while the import stood at 4.32 billion dollars, said the Weekly Eleven News.

The decrease of the export was due to the fall of jade export while that of import was attributed to the declining imports of fuel, machinery and edible oil.

The potential increase of foreign trade at the end of 2012-13 would be possible through increased trade of farming equipment, machinery and goods involving foreign investors, the report added.

Statistics show that in the fiscal year 2011-12, Myanmar's foreign trade stood 18.15 billion dollars, of which the export accounted for 9.09 billion dollars, while the import 9.053 billion dollars.

Source: Xinhua