BILATERAL trade between Myanmar and Japan totalled US$452 million in the first quarter of the 2018-2019 fiscal year, registering a slight decrease of nearly $2.3 million, or 0.5 per cent, compared with the corresponding period of the previous fiscal, the Ministry of Commerce reported.
According to the ministry’s trade report, Myanmar’s exports to Japan topped $125 million, while its imports from the East Asian country exceeded $110 million, during the three-month period between October and December.
The data showed that the trade between the countries totalled $154 million in December, $146 million in November, and $152 million in October. During the same period in the 2017-18FY, bilateral trade was pegged at $138 million in December, $152 million in November, and $164 million in October.
Normally, imports outperform exports in bilateral trade with Japan, which is conducted mainly through the maritime routes. Items traded between the countries include garments, marine products, rice, sesame, rubber and other agricultural products, machines, electronic devices, fertilizers and chemical products, medicines, and automobiles.
During the mini-budget period (April-September) in 2018, Myanmar-Japan trade hit nearly $1.095 billion, an increase of $170 million from $925 million recorded in the 2017-2018 fiscal year.
During the first quarter of the 2018-19FY, the Myanmar Investment Commission permitted three Japanese enterprises to bring in foreign direct investment of $13.234 million. Japan’s investment in Myanmar in the mini-budget period totalled $134.6 million.—Swe Nyein (Translated by Khaing Thanda Lwin)
