Home Insider Insider News Myanmar-China Trade Volume Hits over $5 Billion in the First Half

Myanmar-China Trade Volume Hits over $5 Billion in the First Half

T r a d e v o l u m e b e t w e e n Myanmar and China in the first half of the ongoing financial year reached over $5 billion, according to the export/import statistics released from the Ministry of Planning and Finance.

Myanmar-China trade volume for the period from April to September reached to $5.53 billion, with import value amounting to $3.06 billion and export value standing at $2.47 billion.

In the previous financial year, Myanmar-China trade volume reached $10.49 billion. Out of which, the export value shared $4.76 billion and the import value $5.73 billion, resulting in a recurrent negative balance of trade for Myanmar. Myanmar exports mainly rice, fish, marine products, rubber, mined products, timber, pulses and beans and CMP garments to China, and imports machinery, consumer electronic products, chemicals, drugs, dairy products and other value-added products.

Trade value between the two neighbours hit $7.01 billion in 2013-2014 financial year; $9.69 billion in 2014-2015 and $10.99 billion in 2015-2016. T r a d e w i t h C h i n a w a s responsible for 36.39 % of the total volume of Myanmar’s external trade in the previous budget year, which saw total foreign trade value of $28.84 billion.