Myanmar suffers trade deficit in 1st 8 months of 2015-16 FY

Myanmar has suffered over 3.713 billion U.S. dollars trade deficit in the first eight months of 2015-16 fiscal year, according to official statistics issued on Tuesday.

With its total foreign trade amounting to over 18.1 billion U.S. dollars during the period, its export stood at 7.2 billion U.S. dollars, while its import reached 10.9 billion U.S. dollars.

The statistics issued by Central Statistics Organization show that in the first seven months of 2015-16 fiscal year, total foreign trade amounted to over 15.6 billion U.S. dollars, of which its export stood at 6.4 billion U.S. dollars, while its import topped 9.2 billion U.S. dollars.

Myanmar mostly exports agricultural products, animal products, mineral products, forest products and manufactured products while it imports capital goods, consumer goods and immediate goods.

According to official data, Myanmar's total foreign trade amounted to 29.16 billion U.S. dollars in the fiscal year 2014-15.