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Myanmar's trade deficit reaches over 1.7 bln USD in first half of 2016-17

Xinhua, October 14, 2016 Adjust font size:

The total trade deficit of Myanmar amounted to 1.737 billion U.S. dollars in the first half of this fiscal year 2016-2017 , according to the figures of the Ministry of Commerce on Friday.

The total export value reached 5.935 billion dollars while the total import value amounted to 7.672 billion dollars.

The total trade value through both normal trade and border trade during the period was 13.607 billion dollars, of which border trade with four neighboring countries represented 3.67 billion dollars.

According to the World Bank, the flood disaster in July and August, affecting the country's agricultural sector, resulted in the drop of exports.

Meanwhile, the government is trying to boost the country's export in various ways including a new investment law which favors export oriented investments .

Enhancing the country's trade finance system is also a need to boost export, said local exporters. Endit