THE value of Myanmar’s trade with China in the nine months (Oct-June) of current fiscal year 2018-2019 totalled US$8.73 billion, including $4 billion worth of exports and $4.69 billion for import, according to data released by the Ministry of Commerce.
Meanwhile, Myanmar’s regional trade with ASEAN countries showed the highest growth of $9 billion, closely followed by its bilateral trade with China.
Normally, import surpassed export in trade with China, and Myanmar primarily exports agro products to China through the border gates. However, trade in agricultural products was halted on account of China clamping down on illegal trade in border gates.
The value of bilateral trade with China was $6 billion in the past mini-budget period, $11.78 billion in the 2017-2018 fiscal year and $10.8 billion in the 2016-2017 FY respectively.
Rice, various types of peas, sesame seeds, corn, fruits and vegetables, dried tea leaves, fishery products, rubber, minerals and animal products are exported to China, whereas machinery, plastic raw materials, consumer products and electronic tools flow into Myanmar.
During the Oct-June period, 97 projects from China were approved by Myanmar Investment Commission and the related investment committees of regions and states. China brought capital of $437 million into the country including expansion of investments by the existing enterprises, according to statistics provided by the Directorate of Investment and Company Administration. —GNLM (Translated by Ei Myat Mon)
