Myanmar's foreign trade hits over $11 bln in 2008

www.chinaview.cn 2009-03-21 19:29:13

YANGON, March 21 (Xinhua) -- Myanmar's foreign trade volume hit11.492 billion U.S. dollars in 2008, up 17.8 percent from 2007, according to the latest government monthly economic indicators.

Of the 11.492 billion dollars' foreign trade, the exports amounted to 7.106 billion dollars, up 10.8 percent, while the imports took 4.385 billion dollars, also up 31.2 percent, enjoying a trade surplus of 2.721 billion dollars.

The government sector accounted for 4.656 billion dollars or 65.5 percent in the country's exports, while the private sector represented 2.597 billion dollars or 59.2 percent in its imports.

The apparent increase of Myanmar's foreign trade in 2008 was attributed to the export of natural gas which topped the country's exports during the year with 2.486 billion dollars.

In 2007, Myanmar's foreign trade registered 9.755 billion dollars with its exports showing 6.413 billion dollars and its imports 3.342 billion dollars.

Myanmar trade surplus has been gained since 2002, before which the country suffered a trade deficit for many years.

Myanmar's foreign trade is mainly with Asian countries which accounts for 90 percent of the total. The trade with other member countries of the Association of Southeast Asian Nations (ASEAN) represents 51.3 percent. The remaining are with European countries with 4.8 percent and American countries 1.5 percent.

Myanmar's main export goods are natural gas, agricultural, marine and forestry products, while its key import goods are machinery, crude oil, edible oil, pharmaceutical products, cement, fertilizer and consumers goods.