Import surpasses export in bilateral trade with Singapore

Photo A container ship docks at a Port in Yangon.  Photo: Phoe Khwar

​13 Nov 18 - Source: Global New Light Of Myanmar - Bilateral trade between Myanmar and Singapore touched US$1.99 billion in the last mini-budget period (from April to September), with the country's imports exceeding exports, according to statistics released by the Ministry of Commerce.

Singapore is Myanmar's second largest trading partner in the region, after Thailand. During the last mini-budget period, Myanmar's exports to Singapore were pegged at just $190.4 million, while imports touched $1.8 billion. Myanmar exports agricultural products, footwear, textile and clothing, minerals and animal products to Singapore, and imports plastic, fuel oil, capital goods, intermediate goods, consumer products, metals and chemicals.

Myanmar's bilateral trade with Singapore was pegged at $3.83 billion in the 2017-2018 fiscal year, $2.96 billion in 2016-2017 FY, $3.69 billion in 2015-2016 FY, $4.89 billion in 2014-2015 FY, $3.6 billion in 2013-2014 FY, $2.82 billion in 2012-2013 FY, $3.05 billion in 2011-2012 FY. Ten Singapore-listed enterprises brought in a capital of over $724 million in the last interim period prior to fiscal year 2018-2019, making the country top on the investment line-up, according to data released by the Directorate of Investment and Company Administration.

Singapore also tops the list of countries with the largest FDI inflows in the Thilawa Special Economic Zone, with investments of $598 million so far, followed by Japan and Thailand, respectively.

(Translated by Ei Myat Mon)

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