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Myanmar's export to China's Hong Kong surpasses import in mini-budget period

By:Xinhua Net   Update:2018-11-23
YANGON, Nov. 23 (Xinhua) -- Trade between Myanmar and China's Hong Kong Special Administrative Region (SAR) hit 238.5 million U.S. dollars in the six-month mini-budget or transitional period from April to September with Myanmar's export to the region surpassing import, the official Global New Light of Myanmar quoted the Ministry of Commerce as reporting Friday.
The country has changed its fiscal year period from original April-March to Oct.-Sept. beginning 2018-2019, producing a six-month transitional gap.
During the period, Myanmar exported 230 million U.S. dollars' goods to Hong Kong SAR, while importing 8.5 million dollars of goods from it.
In the fiscal year 2017-18, Myanmar-Hong Hong SAR bilateral trade stood at 385.63 million U.S. dollars, up from 234.46 million dollars in 2016-17.
Myanmar mainly exports precious stones, agricultural products, fishery products and garments to Hong Kong SAR, while importing from the latter telecommunications equipment and optical goods.
Economic interaction between Myanmar and Hong Kong SAR has been increasing rapidly with the latter emerging as the fourth largest investor in Myanmar following mainland China, Singapore and Thailand.
According to official statistics, Hong Kong SAR's investment in Myanmar totaled 7.867 billion U.S. dollars in 171 projects as of August since late 1988, accounting for 10.18 percent of the total foreign investment in the country.