Myanmar cut trade deficit in first two months of current fiscal year
In the last two months, Myanmar cut trade deficit to US$765.8 million from $936 million in the same period last year, reported the state-run newspaper The Global New Light Of Myanmar. Myanmar made changes to fiscal year which in the past run from April 1 to March 31. So, the first new financial year commenced on 1 October 2018 and would end on 30 September 2019. In the 2018-2019 fiscal year, Myanmar’s exports have been estimated at $2.67 billion and imports are pegged at $3.43 billion. Myanmar exports agricultural products, animal products, minerals, forest products, and finished industrial goods. The imports include capital goods, raw industrial materials, including CMP goods, and consumer goods. Myanmar's import of consumer goods decreased five percent since October, as against the same period last year.