Myanmar-India border trade hits $87 mn

Myanmar' State Counsellor Aung San Suu Kyi, left, and Su Su Lwin, wife of Myanmar President Htin Kyaw, pay respects to Buddhist monks at a religious ceremony to mark Myanmar New Year Day at the President House in Naypyitaw, Myanmar, Monday, April 17, 2017. (AP Photo/Aung Shine Oo)

Yangon: Border trade between Myanmar and India reached $87 million as of September 21 during the six-month transitional period which started in April, the Commerce Ministry said here on Sunday.

Myanmar has changed its fiscal year period from April-March to October-September beginning 2018-19, producing a six-month transitional gap, reports Xinhua news agency.

The country’s total border trade with India during this period saw a sharp increase of $54 million, compared to the same period of last fiscal 2017-18 when it was $33 million.

From April to September this year, the country’s exports to India through the border gates totalled $78 million and imports totalled $9 million.

Myanmar has been conducting trade with India via the Tamu and Reed border gates.