Trade surplus & loan repayment: Over 1 billion of trade surplus & 1.495 billion debt repaid

Leader of the Information Team of the State Administration Council Maj-Gen Zaw Min Tun stated that Myanmar amounted to over 1 billion USD of trade surplus under the government of the State Administration Council at the press conference of SAC on 18 November.

Despite the trade deficit under the last government, the current State’s trade value resulted in a positive trade balance of over 1 billion USD, he added. A trade surplus of 677.226 million USD was recorded, as exports surpassed imports in both the six months duration of the 2021-2022 Financial Year and the FY2020-2021.

The data showed a trade deficit of more than 1.3 billion USD in the 2019-2022FY. Myanmar uses border and maritime trade channels in international trade. Over 1 billion USD of trade surplus resulted from shipping more tonnes of rice, broken rice, beans and pulses than before.

The Maj-Gen Zaw Min Tun also mentioned that the government repays debt of 1.495 billion USD using State income without taking further loans from foreign countries during the 21st Press Conference of the SAC Information Team. He stated that the government conscientiously pays back the capital and interest of foreign loans yearly to date like the first government term of democracy.

The current government makes loan repayment of 1.495 billion USD using the State income." Some businesses are suspended as the government does not receive any foreign loans. The government focuses on State development without taking foreign loans and financial assistance. The former governments took international business loans and development finance. The support of international countries is crucial to a developing country, he added.