7 June 2024
Last May, with the improvement of Myanmar’s manufacturing production, the increase in foreign trade also led to a trade surplus of more than $63 million in the two months of this fiscal year, according to the Ministry of Economy and Commerce.
In the two months from April 1st to May 31st of the 2024-2025 fiscal year, exports and imports reached $2.307 billion and imports were only $2.243 billion, so exports were $63.526 more than imports, resulting in a trade surplus of $63.526 million. A trade surplus means less demand for foreign exchange because imports are less than exports.
Myanmar’s manufacturing production increased for the first time in eight months, and the manufacturing index increased to 52.1. The S&P Global Myanmar Manufacturing Purchasing Manager’s Index (PMI) survey released on June 3 showed that it has improved over Vietnam, Malaysia and Thailand.
However, in the two months of this fiscal year, exports to foreign countries increased by only about $230 million compared to the same period last year, but imports decreased by nearly one billion dollars compared to last year, according to statistics released by the Ministry of Economy and Commerce.
Looking at the occurrence of trade surplus/deficit in Myanmar’s foreign trade sector, the trade deficit in the last fiscal year 2023-204 was about 840 million dollars. A trade deficit of more than $730 million in fiscal year 2022-2023; In the 6 months between 2021-2022 fiscal year, the trade surplus is more than 340 dollars. Trade surplus over 670 million dollars in fiscal year 2020-2021; In the fiscal year 2019-2020, the trade deficit reached more than 1 trillion dollars.
