Overall Myanmar’s trade volumes rise despite virus pandemic

Overall Myanmar’s trade volumes rise despite virus pandemic

Myanmar’s trade volumes have risen in the current fiscal year 2019-20 despite the conronavirus pandemic sweeping the world, the Ministry of Commerce announced.

The ministry’s figures indicate that Myanmar’s trade volume rose by some US$2.7 billion (K3.76 trillion) so far this year compared with the same period last year.

“The country’s exports including via border trading up to March 6 totalled US$8 billion and imports US$9 billion. Imports increased by US$1.2 billion and exports US$1.5 billion for compared to the same period last year, indicating that trading increased overall despite the pandemic,” said Ministry of Commerce Director General U Min Min.

He added that goods are again flowing across the border with China at the Muse border trade area, with volumes reaching US$8 to US$10 million a day.

“In the past, the volume was not even close to US$1 million. The number of trucks used to fewer than 100 back then, but now, it has increased to 1,000 vehicles coming and going across the country. On March 13, there were 600 trucks leaving and 500 trucks entering the country,” U Min Min said.

However, he said that exports of fisheries products, especially live crabs and lobsters sent overseas by air, remained lower than before. Exports of cattle were also lower than in the same period a year ago while corn exports to Thailand were hit by currency fluctuations.

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