Myanmar’s trade with EU hit over US$ 1billion in first five months of this FY
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MYANMAR’S trade with members of European Un-ion over past five months in current FY amounted to over US$1 billion, com-prising $665 million worth of export and $362 million worth of import, according to the statistics released by the Ministry of Commerce last Friday.

Since April, Germany was ranked first among EU countries having the largest trade value of $254 million with Myanmar, followed by Britain at the second place with about $145 million. 

France was listed at the third place with trade values of about $140 mil-lion while Italy stood at the fourth place with estimated $99 million and Myanmar’s trade with the Netherlands reached about $82 million. 

Value of bilateral trade with Spain was about $79 million while that with Bel-gium was $71 million. 

Trade values with Czech Republic, Greece, Cyprus, Sweden, Denmark, Poland, Finland, Bulgarian, Roma-nia, Luxembourg, Austria, Hungary, Estonia , Ireland, Portugal and Malta was less than $50 million each. 

Beyond regional trade regime, Myanmar has esablished trade links with EU member countries.

The country mainly exported rice, pulses, tea leaf, coffee, apparel from garment sector on Cut-Make-Pack basis and fish while cosmetic, food and beverages and consumer goods were imported into Myanmar.

Trade value with EU countries was about $1.5 billion in FY 2016-2017, $676 million in FY 2015-16, $655 million in FY 2014-2015, $553 million in FY 2013-2014, $408 million in FY 2012-2013 and $412 million in FY 2011-2012.

Source : theglobalnewslightofmyanmar