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Myanmar Individuals' border trade exceeds 30 mln USD in 11 months of FY 2019-20

Myanmar Individuals' border trade exceeds 30 mln USD in 11 months of FY 2019-20

Sep 16, 2020

Yangon (Myanmar), September 16: Myanmar's total border trade using Individual Trading Cards (ITC) exceeded 40 billion kyats (over 30 million U.S. dollars) in 11 months of present fiscal year (FY) 2019-2020 which started in October, showed figures released by the Ministry of Commerce Wednesday.
As of Aug. 31 this FY, the ministry issued 83 individual trading cards, and export using ICT cards through border gates earned over 2.7 billion kyats while imports exceeded 37.9 billion kyats.
During the period, Myawady border gate recorded the highest ITC's trade with over 26.6 billion kyats.
The ministry has issued a total of 1,770 ITCs, registering its trade value of over 210 billion kyats 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. (1 U.S. dollar equals 1,321 kyats)
Source: Xinhua News Agency