Mawlamyine, 6 August
According to a report issued on August 3 by ISP-Myanmar, a research group, the amount of illegal trade between Myanmar and China climbed to about 17 billion US dollars in the previous fiscal year, and illicit trade has more than doubled compared to the same period a year earlier.
According to the military council, the trade value with China is more than nine billion dollars for the 2022–2023 fiscal year, while the General Administration of Customs of China (GACC) reports that the trade value with Myanmar is more than 26 billion dollars.
When comparing official statements of Myanmar and China’s two-way trade figures, there is a gap of nearly USD 17 billion, and the monthly trade gap is between 1 billion and 2 billion US dollars, according to ISP-Myanmar.
According to the statement, the illegal trade between Myanmar and China under the military regime has doubled compared to the 2020–2021 fiscal year.
The widening gap in trade figures between China and Myanmar shows the increase in illegal trade between the two countries after the coup, according to the report.
Myanmar’s border trade with three of its four neighboring countries, except Thailand, is declining, and China remains Myanmar’s top trading partner.
News-Than Lwin Times
Photo-CJ