Just days after Myanmar’s President U Win Myint ended his visit last week to India, meeting with India’s PM and President and signing 10 MoUs, the Ministry of Commerce released this week trade numbers with Myanmar’s western neighbor – and they are declining.
While the trade with China is severely hit by the outbreak of the Covid-19, Myanmar cannot count on India to compensate. Indeed, as of February 21st, Myanmar-India border trade reached only USD 60.44 million, a decrease in value by USD 12.1 million over the same period last year (USD 72.5 million).
The Myanmar-India total border trade during the period was made up of exports for a value of USD 58.49 million and imports for a value of USD 1.95 million.
