Myanmar slashes trade target on Covid-19 after crippling coup

This photo taken and received from an anonymous source via Facebook on May 22, 2021 shows protesters holding banners as they march during a demonstration against the military coup in Mandalay. - AFP

YANGON, May 23 (Bloomberg): Myanmar, which has been in turmoil since a military coup in February, cut its trade target for this year by 16%, citing the impact of Covid-19.

The government reduced its trade outlook to US$29 billion, from US$34.7 billion forecast around the start of the fiscal year in October, Ministry of Commerce spokesman Khin Maung Lwin said in an interview this week. That would be down 21% from the previous fiscal and the lowest in five years, according to ministry data.