Individuals' border trade reaches over $23 mln in mid-FY 2018-19 in Myanmar
Myanmar's border trade using Individual Trading Cards (ITCs) reached over 34.77 billion kyats ($23.18 million) over the first half of present fiscal year 2018-2019, according to Myanmar's Commerce Ministry last week.
From Oct. 1, 2018 to April 5 this year, the country's export through border checkpoints using ITCs amounted to 4.97 billion kyats ($3.31 million) while its import shared 29.8 billion kyats (19.87 million US dollars).
Of 20 checkpoints at where Myanmar mainly conducts border trade, Myawady border gate topped the list with trade value of 18.6 billion kyats ($12.4 million) and 114 ITCs were issued during the period.
The Commerce Ministry has issued a total of 1,638 ITCs so far since FY 2012-2013. The country's border trade using ITCs totalled over 22.5 billion kyats ($15 million) during the six-month mini-budget or transitional period in 2018.
The country mainly exports agricultural products, animal products, fisheries, minerals and forest products to neighbouring countries while capital goods, intermediate goods and consumer goods are imported into the country.