Myanmar's foreign trade up 18.19 per cent yoy in Q1

YANGON, July 9 (Xinhua): Myanmar's total goods imports and exports surged 18.19 per cent year on year to over US$7.62 billion in the first quarter of the 2022-2023 fiscal year started on April 1, official data has showed.

The South-East Asian country changed its fiscal year from the original October-September to April-March beginning this year.

From April 1 to June 24 this year, exports increased 18.34 per cent from a year earlier while imports climbed 18.04 per cent, the Ministry of Commerce's figures showed.

Despite the total trade surge, the country's border trade decreased 15.54 per cent year on year to over US$1.719 billion amid the Covid-19 pandemic.

Most of the country's trade with foreign countries is usually done through sea routes as the country boasts a long coastline.

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