ISP Myanmar said that there were almost 17 billion dollars in illegal trade with China.
According to a report released by the Institute for Strategy and Policy -Myanmar (ISP-Myanmar) on August 3rd, in the 2022 - 23 fiscal year, China-Myanmar bilateral illegal trade amounted to nearly 17 billion US dollars.
The Ministry of Economy and Commerce of the Military Council announced that the bilateral trade volume for the 2022-23 fiscal year was 9 billion US dollars, but the list of the General Administration of Customs of the People's Republic of China (GACC) stated that the bilateral trade was 26 billion dollars, so the illegal trade volume was 17 billion US dollars. According to the statements of the two countries, there is a difference between one billion and two billion US dollars in the monthly accounts, which is the amount of illegal trade.
ISP Myanmar pointed out that compared to the fiscal year 2020-2021, the bilateral trade value gap has almost doubled, indicating that illegal trade between China and Myanmar has increased since the military coup. ISP said that in the 2022-2023 fiscal year, Myanmar's foreign trade value was nearly 34 billion US dollars. Among them, trade with China was the largest at over US$9.2 billion, and Thailand was the second largest at US$6 billion.
In the fiscal year 2022-2023, the value of Myanmar's foreign exports was 16.6 billion US dollars. It is said that it received nearly 11 billion US dollars, including sugar, clothes, natural gas, and industrial finished products such as jewelry, which is an increase of more than 2.7 billion from the 2020-2021 fiscal year. However, Myanmar's basic agricultural products have decreased to more than 620 million US dollars compared to the 2020-21 fiscal year. ISP Myanmar's surveys indicated that exports of minerals and other goods also decreased.