Myanmar's individual border trade hits over 1.43 mln USD in first month of FY 2020-21

Myanmar’s total border trade using Individual Trading Cards (ITC) hit over 1.86 billion kyats (over 1.43 million U.S. dollars) in the first month of present fiscal year (FY) 2020-2021 which started in October, said figures released by the Ministry of Commerce on Sunday.

As of Oct. 31, the ministry issued three individual trading cards and export using those cards through border gates earned over 613 million kyats (472,021 U.S. dollars) while its imports exceeded 1.25 billion kyats (964,469 U.S. dollars).

During the period, Myawady border gate recorded the highest ITC’s trade with over 1.17 billion kyats (904,131 U.S. dollars).

The ministry has issued a total of 1,778 ITCs, registering its trade value of over 214 billion kyats (164.9 million U.S. dollars) so far since FY 2012-2013, the ministry’s figures said.

Myanmar mainly exports agricultural products, animal products, marine products, minerals, forest products, manufacturing goods and others to foreign trade partner countries while capital goods, intermediate goods and consumer goods are imported into the country.

The country conducts border trade with neighboring China through Muse, Lweje, Kanpikete, Chinashwehaw and kengtung with Thailand via Tachilek, Myawady, Kawthoung, Myeik, Hteekhee, Mawtuang and Maese gates, with Bangladesh via Sittwe and Maungtaw and with India through Tamu and Reed border gates, respectively.