Business News
Myanmar trade deficit with China hits 400 million dollars
Jan 15, 2012, 6:42 GMT
Yangon - Myanmar notched up a 400-million-dollar trade deficit with China last year on strong equipment imports, reports said Sunday.
Trade amounted to about 3.6 billion dollars, with Myanmar's exports of minerals, rubber, fruit and fisheries products worth about 1.6 billion dollars.
Imports of construction materials, machinery and consumer goods totalled about 2 billion dollars, the Myanmar Times reported, citing Commerce Ministry figures.
'Bilateral trade will continue to grow because China's market is very big and the Myanmar government plans to open up new border trading zones in Kachin State in the future,' said a ministry official who requested anonymity.
Officials attributed the growing deficit with China on a surge in imports for investments in infrastructure projects.
Chinese investments in the country amounted to 9.6 billion dollars last year, according to the Myanmar Investment Commission.
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