Myanmar: Trade Profile

Foreign Trade in Figures

Myanmar's relatively dynamic foreign trade is generally subject to state control, although the current reforms aim to liberalize the market. International trade represented 53% of the country's GDP (World Bank, latest data available). Myanmar has been a member of the World Trade Organization (WTO) since 1995 and the Association of Southeast Asian Nations (ASEAN). Customs duties have been reduced, and there are few non-tariff trade barriers, with the exception of government controls (import limitations). Import licenses have been partially abolished, and taxes on exports decreased. The country mainly exports precious stones (15.4%), petroleum gas (13%), dried legumes (6%), non-knit women's coats (4.6%), and rice (3.8%); whereas imports are led by refined petroleum (17.5%), crude petroleum (3.25%), special-purpose ships (2.7%), light rubberized knitted fabric (2.52%), and palm oil (2.53% - data OEC 2022).

Geographically, China is by far the main origin of Myanmar’s imports (45.5% of the total), followed by Thailand (15.8%), Singapore (14.2%), Malaysia (4.4%), and Indonesia (3.6%). Exports are mainly directed towards China (35.7%), Thailand (12.9%), Germany (6.3%), Japan (5.6%), and the United States (4.3% - data OEC 2022).

The country’s trade balance fluctuates, alternating between surpluses and deficits. According to data from the WTO, in 2022, Myanmar exported a total of USD 17 billion and imported USD 17.44 billion (+12.7% and +21.4% y-o-y, respectively). Due to the drop in tourism arrivals, services exports decreased drastically in recent years, totaling only USD 1.5 billion in 2022 (compared to USD 7 billion recorded before the pandemic), against USD 1.7 billion in imports. According to statistics from the Ministry of Commerce, Myanmar's international trade with foreign partners exceeded USD 30 billion in the fiscal year 2023-2024 (April-March), marking a notable decrease of USD 4 billion compared to the previous fiscal year 2022-2023. The total trade balance stood at USD 3.39 billion in the corresponding period of the previous year. Myanmar's exports surpassed USD 14 billion, while imports were valued at over USD 15 billion.

Foreign Trade Indicators	2019	2020	2021	2022	2023
Imports of Goods (million USD)	18,588	17,947	14,327	17,403	15,566
Exports of Goods (million USD)	17,997	16,692	15,154	17,085	13,594
Imports of Services (million USD)	3,665	3,249	2,000	2,129	0
Exports of Services (million USD)	7,018	3,978	2,123	2,548	0
Imports of Goods and Services (Annual % Change)	-8	6	-22	3	n/a
Exports of Goods and Services (Annual % Change)	11	8	-18	6	n/a
Trade Balance (million USD)	-2,850	n/a	n/a	n/a	n/a
Foreign Trade (in % of GDP)	61	65	66	72	n/a
Imports of Goods and Services (in % of GDP)	30	32	32	35	n/a
Exports of Goods and Services (in % of GDP)	30	33	34	37	n/a

Source: WTO – World Trade Organisation ; World Bank - Latest available data.

Main Partner Countries

Main Customers (% of Exports)	2023
Thailand	24.3%
China	23.2%
Japan	8.1%
India	5.7%
United States	4.0%
Germany	3.5%
Poland	3.2%
Spain	3.0%
South Korea	2.7%
United Kingdom	2.3%
Netherlands	2.0%
Italy	1.9%
Belgium	1.6%
Malaysia	1.2%
Singapore	1.1%
France	1.1%
Vietnam	1.0%
Indonesia	0.9%
Philippines (the)	0.8%
Denmark	0.8%
See More Countries	34.7%

Main Suppliers (% of Imports)	2023
China	31.0%
Singapore	22.5%
Thailand	12.8%
Malaysia	8.3%
Indonesia	7.2%
South Korea	3.4%
India	2.7%
Vietnam	1.8%
Japan	1.2%
United States	1.1%
Oman	0.8%
Australia	0.8%
Italy	0.7%
Germany	0.7%
United Arab Emirates	0.6%
Brazil	0.5%
France	0.4%
Philippines (the)	0.3%
Belgium	0.2%
New Zealand	0.2%
See More Countries	18.2%

Source: Comtrade, Latest Available Data

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Main Services

4.9 bn USD of services exported in 2019
TravelTravel	50.44%
Other business servicesOther business services	29.98%
TransportationTransportation	7.73%
Government servicesGovernment services	4.55%
Computer and information servicesComputer and information services	3.04%
Construction servicesConstruction services	2.76%
Cultural and recreational servicesCultural and recreational services	0.93%
Royalties and license feesRoyalties and license fees	0.34%
Financial servicesFinancial services	0.22%

3.6 bn USD of services imported in 2019
TransportationTransportation	45.27%
Other business servicesOther business services	32.13%
Computer and information servicesComputer and information services	7.37%
TravelTravel	5.24%
Construction servicesConstruction services	3.55%
Government servicesGovernment services	2.29%
Cultural and recreational servicesCultural and recreational services	1.54%
Insurance servicesInsurance services	1.47%
Royalties and license feesRoyalties and license fees	0.92%
Financial servicesFinancial services	0.22%

Source: United Nations Statistics Division, Latest Available Data

List of tariffs and local taxes that apply to your product on our service Customs Duties

Trade Compliance

International Conventions: Member of the World Trade Organization (WTO)
International Economic Cooperation: Member of Association of Southeast Asian Nations (ASEAN),AFTA and the ASEAN - China Free Trade Area.
Member of Bay of Bengal Initiative for Multi-sectoral Technical and Economic Cooperation (BIMSTEC)
Useful Resources: The National Customs

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