Individuals’ border trade hits 12 mln USD in 4 months in Myanmar


Myanmar's total border trade using Individual Trading Cards (ITC) exceeded 18 billion kyats (12 million U.S. dollars) in first four months of current fiscal year (FY) 2019-2020 which started in October, according to figures released by the Ministry of Commerce on Thursday, reports Xinhua.

From October to January this FY, the ministry issued 32 ITCs and export using those cards through border gates earned over 1.78 billion kyats (1.18 million U.S. dollars) while its imports exceeded 17 billion kyats (11.3 million U.S. dollars). During the period, Myawady border gate recorded the highest ITC's trade with 11.3 billion kyats (7.5 million U.S. dollars).

The ministry has issued a total of 1,719 ITCs, registering its trade value of over 188 billion kyats (125.3 million U.S. dollars) so far since FY 2012-2013, according to the ministry's figures.

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.