Individual border trades through border gate exceeded K 34 billion in the ten months of current 2019 – 2020 financial year

Trade conducted by Individual Trading Card (ITC) holders touched K37.8 billion through the borders in the ten months of the 2019-2020 financial year, according to the data released by the Ministry of Commerce. The Trade Department issued 61 cards in October-July period, and the cardholders conducted trade worth K37.8 billion. While imports exceeded K35.23 billion, exports were valued at just K2.6 billion.
The Myawady border recorded the highest trade value at K24.7 billion in the current FY, according to the Commerce Ministry. But, the figure only reflects imports as individual trading cardholders did not export goods through the Myawady border. The value of trade carried out by individual cardholders stood at K369 million at Tamu, over K10 million at Muse, K173.5 million at Tachilek, K39 million at Lweje, K488 million at Kampaiti, K1.8 billion at Kawthoung, K680.96 million at Reed, K5.9 billion at Mawtaung, K3.4 billion at Hteekhee, and K172 million at Kengtung, as per data from the Commerce Ministry. Individual trades topped K737 million in the period from 21 November 2012 to 31 March 2013, exceeded K6.6 billion in the 2013-2014FY, crossed 9.3 billion in the 2014-2015FY, stood at over K6.4 billion in the 2015-2016FY, rose above K18.5 billion in the 2016-2017FY, touched K45.9 billion in the 2017-2018FY, K22.5 billion during the mini-budget period (April-September, 2018), and K59 billion in the 2018-2019FY.
Trading with the use of ITC is based on local currency. Hundreds of exports and imports items have been allowed for individual trading at the border crossings. The trade department has issued 1,748 cards so far with the aim of boosting trade. People in business can trade goods worth K3 million per day using ITCs, and the Trade Department has permitted the exchange of up to K15 million per day over five days. —Ko Htet (Translated by Ei Myat Mon)

(The Global New Light of Myanmar: https://www.gnlm.com.mm/individual-trades-through-border-exceed-k34-bln-as-of-july-end/ )

​