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Trade deficit unchanged at $5 billion in fiscal 2015-16

A construction site in Burma's rapidly developing former capital, Rangoon, in July 2014 (Photo: Feliz Solomon/DVB)

Burma’s trade deficit remained largely unchanged last year compared with the year before, according to data released by the country’s Central Statistical Organization.

The total value of all trade, including cross-border trade, from April 2015 to February 2016 was US$25.1 billion, with exports accounting for just over $10 billion of that figure.

Trade in February included $1.17 billion in exports and $1.36 billion in imports, for a deficit of nearly $190 million.

No figures were available for March, the final month of the 2015-16 fiscal year.

Last year’s trade deficit of $5 billion was little changed from the $4.9 billion recorded in 2014-15. The year before it was just 2.6 billion.

Accelerating economic growth in Burma has driven much of the increase in imports. Construction materials for infrastructure projects accounted for around 40 percent of the total in 2014-15.