Individuals' border trade exceeds 24 mln USD in 9 months of FY 2019-20 in Myanmar

July 17, 2020

Myanmar's total border trade using Individual Trading Cards (ITC) exceeded 34 billion kyats (24 million U.S. dollars) in nine months of present fiscal year (FY) 2019-2020 which started in October, said figures released by the Ministry of Commerce on Thursday.

As of June 30 this FY, the ministry issued 50 individual trading cards and export using ICT cards through border gates earned over 2.42 billion kyats (1.7 million U.S. dollars) while its imports exceeded 31.6 billion kyats (22.5 million U.S. dollars).

During the period, Myawady border gate recorded the highest ITC's trade with 22.8 billion kyats (16.3 million U.S. dollars).

The ministry has issued a total of 1,737 ITCs, registering its trade value of over 203 billion kyats (145.2 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.