Myanmar's foreign trade drops slightly in nearly six months of FY 2016-17

Myanmar's foreign trade through normal and border sectors was down by over 400 million U.S. dollars in nearly six months of the fiscal year 2016-2017 as of Sept. 23, according to the figures of the Ministry of Commerce on Monday.

The total trade value of the six-month period reached 12.40 billion U.S. dollars, down from the same period of the previous fiscal year 2015-2016 when it showed 12.82 billion U.S. dollars.

Meanwhile, trade deficit in the same period also decreased by over 590 million U.S. dollars as compared to the same period of the fiscal year 2015-2016.

The trade deficit has made the country's current foreign exchange market unstable as the foreign exchange rate is ascending these days.

Capital goods were mostly imported to the country by private sector in this first six months while manufacturing goods stood as the most exported item.

Source : XINHUA