Home MMBIZ News Imports from Thailand up; Exports Fall 10.9pc

Imports from Thailand up; Exports Fall 10.9pc

Myanmar’s imports from Thailand in the first six months of this year amounted to $2.134 billion, an increase of 11.26 percent from the same period last year, according to Boon Intiratana, minister counsellor at Thailand Ministry of Commerce’s Department of International Trade Promotion (DITP).

Kerosene, gasoline, food and beverages, engines and accessories, cement, iron and ironware, construction material, and garments comprise the major imports from Thailand.

Export volume from Myanmar stood at $1.934 billion during the period, 10.97 percent lower than the same period last year.

Myanmar’s major exports to Thailand are comprised of natural gas, timber, oil and metal products used in building foundations. The two countries recorded a total trade volume of $3.86 billion in the first six months, which is only 1 percent higher than last year’s figure.

“International businesspeople and investors are increasingly showing interest to invest in Myanmar, especially in the last two years since policies have been changed to increase investments in the country.

“Myanmar has the opportunity to upgrade and expand businesses such as food and beverage production, garment factories, footwear manufacturing and construction materials manufacturing,” Boon said.

A drafted strategy has also been prepared to help expand the whole market including the service, design and construction, hotel, restaurant, recreation, real estate, healthcare, beauty saloon, education, entertainment and media, and logistics industries, the counsellor added.

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