Data Matters No. 31
Cross-border trade volume with neighboring countries in the first quarter of the 2022-23 financial year amended by the SAC following the coup, was approximately USD 2 billion. This resulted in a decrease of approximately USD 290 million in exports and more than USD 340 million in imports compared with the previous financial year (2021-22). During these three months, Myanmar traded over USD 1.3 billion with Thailand, an increase of more than USD 161 million from the same period in the 2021-22 fiscal year. Meanwhile, Myanmar’s trade volume with China plunged by more than USD 600 million, followed by a decline of more than USD 158 million with Bangladesh and a decline of around USD 30 million with India.
In the first quarter of this fiscal year, Myanmar only exchanged just over USD 600 million with China through border trade posts, showing a decline in four of the five border posts along the Myanmar-China border. Muse border trade post saw the greatest decline, trading only USD 550 million in value, while only Kanpiketi border trade post saw an increase in value, of more than USD 6 million. Three of six Myanmar-Thailand border trade posts experienced an increase in trade, accounting for approximately 66 percent of all border trade value. Nabulae/Htee Khee border post traded the most with over USD 600 million, followed by the Myawaddy trade post with more than USD 590 million. When comparing trade values between two fiscal years, Nabulae/Htee Khee border trade post saw an approximately USD 180 million increase in trade value, whereas Maw Daung border trade post saw the least decline with just over USD 3 million in total trade.
∎ Why does it matter?
The impact of the economic crisis following the coup and the economic sanctions imposed by Western countries on Myanmar’s foreign trade is crucial for Myanmar’s economy and democratic transition. As business figures provide insight into foreign countries’ perceptions of their own politics and interests, they can be an effective tool for understanding foreign countries’ roles.
∎ Relevant Reading
Statistics regarding domestic and international trade on a monthly and annual basis, as well as differences in trade values between quarters of different fiscal years, can be found on the official website of the SAC’s Ministry of Commerce. A comparison can be made between that figure and those published in the annual reports of the World Bank, the IMF, Myanmar’s trading partners, as well as the Asian Development Bank.