18 October 2023
Myanmar aims to attain foreign trade worth US$32.5 billion in the second half (October-March) of the current financial year 2023-2024, comprising exports worth $16.5 billion and imports valued at $16 billion, said Union Minister for Commerce U Tun Ohn.
The Union Minister encouraged exporters to bolster exports and achieve trade surplus in the H2.
He also urged them to exceed the export target for items such as rice and various pulses. Both self-sufficiency and reasonable profit for exporters need to be considered. The Union Minister also promised to help deal with difficulties in export. Myanmar’s trade value accounts for 46 per cent of exports and 53 per cent of imports in H1 (April-September) of the current FY, showing some trade deficit. The trade value in H1 was down by $1 billion compared to that of the corresponding period last FY 2022-2023.
