Foreign commerce falls by more than 11 percent

The decline is not only due to violent conflict in Myanmar’s border areas, but also the regime’s restrictions on all international traders, which has impeded trade via maritime routes as well

Data made public by the military council’s ministry of commerce this week showed that total imports and exports had decreased by more than 11 percent from the previous year.

A total of US $28.8 billion worth of goods were traded through maritime routes and overland border crossings in the 2023-2024 financial year, as compared with US $32.6 billion in 2022-2023, a decrease of US $3.6 billion. 

According to international traders, the decline occurred not only because of constant battles causing land routes to shut down, but also due to difficulties in securing trade licences after the regime established requirements to exchange a certain proportion of export revenue into kyat. These requirements have also been an impediment to traders working through maritime routes.

. . .

Subscribe for full access to

Get unlimited access to high-quality reporting from the frontlines and support independent journalism.

Subscribe Now

Related Articles

Back to top button