Myanmar’s foreign trade to increase to $35 billion this year

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myanmar containerMyanmar aims to raise its foreign trade volume by $10 billion to $35 billion during the current 2014-15 fiscal year, according to the Ministry of Commerce.

Myanmar’s foreign trade volume gone has from $15 billion to $25 billion in three years.

“We intend to increase it to $35 billion this fiscal year,” said Minister of Commerce Win Myint.

“National Planning approved this year’s trade volume to be $25.7 billion. But we say that the amount is too small. This year is expected to be more because last year’s foreign direct investment brought much income. Exports to the EU market sill also be up more than last year,” he added.

Illegal trade continue to grow too, taking a chunk out of the total foreign trade volume, according to documents from the Ministry of Commerce.

From April 1 2013 to the end of March 2014, Myanmar’s export volume totaled at $10.8 billion, $ 8.1 billion coming from sea exports and $2.6 billion from land border exports.

During the same period imports totaled at $13.6 billion, with $11.8 billion from overseas trade and $1.7 billion coming in across borders.

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Reading Time: 1 minute

Myanmar aims to raise its foreign trade volume by $10 billion to $35 billion during the current 2014-15 fiscal year, according to the Ministry of Commerce.

Reading Time: 1 minute

myanmar containerMyanmar aims to raise its foreign trade volume by $10 billion to $35 billion during the current 2014-15 fiscal year, according to the Ministry of Commerce.

Myanmar’s foreign trade volume gone has from $15 billion to $25 billion in three years.

“We intend to increase it to $35 billion this fiscal year,” said Minister of Commerce Win Myint.

“National Planning approved this year’s trade volume to be $25.7 billion. But we say that the amount is too small. This year is expected to be more because last year’s foreign direct investment brought much income. Exports to the EU market sill also be up more than last year,” he added.

Illegal trade continue to grow too, taking a chunk out of the total foreign trade volume, according to documents from the Ministry of Commerce.

From April 1 2013 to the end of March 2014, Myanmar’s export volume totaled at $10.8 billion, $ 8.1 billion coming from sea exports and $2.6 billion from land border exports.

During the same period imports totaled at $13.6 billion, with $11.8 billion from overseas trade and $1.7 billion coming in across borders.

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