Myawaddy, October (2)
Myanmar’s border trade income for the first three months of April to June of the 2022-2023 fiscal year, which was reset by the Military Council, decreased by more than 630 million US dollars compared to the same period of the previous fiscal year, according to the data released by the Institute for Strategy and Policy (ISP-Myanmar) on September 29.
According to research group ISP-Myanmar, in the second quarter of April, May and June of the 2022-2023 fiscal year, the total amount of export and import border trade of the Military Council was nearly $ 2,000 million.
However, as they received $ 2,600 million during the fiscal year 2020–2021 from April to June, total trade dropped by more than 635 million dollars in the same period.
Trade decreased by more than $ 290 million in the export sector and more than 340 million US dollars in the import sector.
Trade with Thailand accounts for more than $ 1.3 billion in border trade between Myanmar and its neighbors, or 66% of the overall border trade.
Businessmen believe that border trade has declined due to the junta-held central bank’s restrictions on foreign currency and border trade policies.
Myanmar mainly trades with neighboring countries such as China, Thailand, India, and Bangladesh.
Myanmar exports agricultural products to Thailand and China, and mainly imports basic foodstuffs, pharmaceuticals, cosmetics, commodities, and construction materials from these countries.
The ISP-Myanmar’s figures refer to the statement of the regime’s Ministry of Commerce.
News – Than Lwin Times
Thanlwintimes