TODAY

Trade deficit reaches over US$1.5billion in four months

TRADE deficit has reached over US$1.5 billion from April to July of this fiscal year 2016-2017, with a total of trade value about US$8billion, it is learnt from the Trade Promotion Department under the Ministry of Commerce.

During these four months, exports both through normal trade and border trade channels has amounted to over 3.2 billion, whereas imports worth US$4.7 billion flowed into Myanmar. Therefore, there is a deficit of over US$ 1.5 billion in trade during four months.

There are a total of seven major export good to foreign countries. During this years, the export value of mineral goods has declined by over US$210million whereas that of industrial finished products, up to US$300 million when compared to the similar period of last fiscal year, it is learnt from the trade promotion department.

The export of natural gas and industrial finished products has fetched over US$1.4billion whereas the agricultural products, over US$1 billion. And the other export goods has earned over US$480 million while the value of fishery products was US$151, the mineral products, US$ 89million and forestry products, US$ 74 million, it is learnt.

In the import sector, the value of capital goods was over US$2 billion; that of personal goods, over US$1.4 billion and the import value of industrial goods over US$ 1.1 billion.

Ref: GNLM, 18 August 2016