Bilateral trade between Myanmar and Bangladesh from borders stood at US$17.8 million as of 5 July in the current Fiscal Year (FY) 2018-2019, down by $8.544 million or 32.43 per cent, from the corresponding period last 2017-2018 FY, the Ministry of Commerce reported.
At this time last FY, Myanmar-Bangladesh trade through border gates was pegged at $26.349 million, with exports worth over $24 million and imports amounting to $2.2 million.
Usually, Myanmar’s exports to Bangladesh surplus its imports in bilateral border trade. In bilateral border trade, goods are delivered mainly through two border gates—Sittway and Maungtaw.
Between 1 October and 5 July this FY, trade via the Sittway gate was pegged at $11.169 million, with $9.95 million in exports and $1.219 million in imports, whereas trade from the Maungtaw gate reached $14.5 million, including $2.245 million in imports.
Marketable goods at the Myanmar-Bangladesh borders contain bamboos, ginger, peanuts, saltwater prawns and fish, dried plums, garlic, rice, mung beans, blankets, candy, plum jams, footwear, frozen foods, chemicals, leather, jute products, tobacco, plastics, wood, knitwear and beverages.
According to the ministry’s annual statistical data, the total border trade with Bangladesh was over $29 million in the 2017-2018 FY. According to the annual statistical report of the ministry, the bilateral border trade was $3.83 million in 2012-2013 FY, $22.8 million in 2013-2014 FY, $14.3 million in 2014-2015 FY, $11.5 million in 2015-2016 FY, $1.6 million in 2016-2017 FY.
The public sector’s export in the 2018 mini-budget period (April-September) totalled $755.25 million.—Swe Nyein
(Translated by Khaing Thanda Lwin)