May 3, 2017

Govt expects to earn US$29 billion from foreign trade in 2018

The government is expected to earn US$29 billion from foreign trade in the 2017-18 fiscal year, according to Permanent Secretary Toe Aung Myint from the Ministry of Commerce.
Myanmar earned US$28 billion from foreign trade in 2016 and the trade deficit was over US$5.5 billion. Total export value was US$11.620 billion, and import value was US$17.180 billion.
Overall, the value of foreign trade last fiscal year was over US$1 billion compared with 2015.
Although the government expected a trade deficit in 2016 of about US$3 billion, the actual value was higher than expected. The government expected foreign trade value will be about US$31 billion while in actuality, the trade value was only US$28 billion.
Foreign trade value was over US$730 million at the beginning of 2017-18 and it exceeded over US$160 million compared with last fiscal year. So far, total export value is US$288 million and import value is US$443 million.
Source: Eleven Weekly Media