Home MMBIZ News Myanmar to Run Over $2.6b Trade Deficit in 2013-14FY

Myanmar to Run Over $2.6b Trade Deficit in 2013-14FY

Total trade deficit as of March 14 during 2013-14 (April/March) fiscal year amounted to over $2.6 billion, a senior government official has said.

Total exports and imports during that period were $10.58 billion and $13.19 billion respectively, Toe Aung Myint, director general from the Ministry of Commerce, said. He attributed the rise in deficit to the imports of capital goods.

During the first 11 months (April-February) of the current fiscal year, Myanmar suffered a trade deficit of $2.3 billion, according to the Central Statistical Organization (CSO).

During the period, foreign trade totalled $22.75 billion, with exports amounting to $10.22 billion and imports standing at $12.53 billion, CSO’s statistics showed.

Of the total export, overseas trade accounted for $7.6 billion, while border trade made up $2.59 billion. Of the total import, regular trade accounted for $10.88 billion, and border trade $1.6 billion.

In February, foreign trade amounted to $1.96 billion – exports stood at $673.37 million while imports were $1.28 billion.

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