Myanmar target US$17 billion foreign trade in six-month interim budget period


YANGON, Sept. 20 (Xinhua): Myanmar's commerce ministry has set a target of US$17 billion for total foreign trade in the six-month interim budget period which will start on Oct. 1, an official of the ministry had announced.

Myanmar has recently announced to change the practice of its fiscal year from original October-September to April-March beginning 2022-2023, producing a six-month interim budget period from October this year to March next year.

During the six-month transitional period, the country targets to earn 8.2 billion U.S. dollars from exports while its import value is expected to reach 8.8 billion U.S. dollars, Assistant Secretary U Thaung Naing of the commerce ministry said.

"The present situation of U.S. dollars' appreciation is a challenging factor for both import and export markets in order to meet the trade target," he said, adding that the ministry has been in cooperation with the central bank and relevant organizations to stabilize the foreign currency exchange market.

According to official figures, Myanmar's total foreign trade has reached US$27.6 billion as of Sept 10 of present FY 2020-2021.

From Oct. 1, last year to Sept. 10 this year, the country has earned over US$13.7 billion while its import valued at over US$13.8 billion.

The present fiscal year's foreign trade showed a decrease by over US$7.5 billion, compared to the same period of the last fiscal year, 2019-2020, when it was recorded at over US$35.1 billion, the ministry's figures said.

About 80 per cent of the country's trade with foreign countries is done through sea route and its border trade is conducted with neighboring China, Thailand, Bangladesh and India.

The country exports agricultural products, animal products, fisheries, minerals and forest products, manufacturing goods and others to foreign countries while capital goods, intermediate goods and consumer goods are imported into the country. - Xinhua

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Myanmar , Foreign Trade , Big Numbers

   

Next In Aseanplus News

US at turning point in dealing with Myanmar crisis: Official
Aukus military pact will go on, says Australia and UK
Laos reports two more Covid-19 deaths and 388 new cases
Asean News Headlines as at 9pm on Thursday (Oct 21)
Aussie rock lobsters a Hong Kong security threat: customs chief
Presidential candidate Robredo tells supporters to be calm, gentle and do good deeds
Bali seeks to give tourists holiday feel during quarantine
Covid-19: Cases rise above 6,000, says Health DG
Vietnam firms with revenue less than VN200bil enjoy 30% cut in corporate tax
Ryde gets ride-hailing, carpool service licences in Singapore

Others Also Read


Vouchers