| Trade Between China and Myanmar in Brief |
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| 2004-12-01 11:02 |
Trade Between China and Myanmar in Brief
There had been trading events between these two countries before they established diplomatic relations，but not in a great value, about USD 3 million yearly, which only accounted for 1% of the total foreign trade value of Myanmar. The establishment of diplomatic relations between the two countries in 1950 brought about great development in trading relationship. The two countries signed their first trade agreement in 1954. In November 1971, a government trade delegation visited China and signed a new trade agreement with China, by which the two countries gave each other most-favored-nation treatment.
There has been a large increment on bilateral trade value since 1985 thanks to rapid development of border trade. Trade value between these two countries amounted to USD767 million in 1995, which created a historical record. Unfortunately the bilateral trade value had been decreasing from 1997, due to the financial crisis, till the year 2000. Up to 2002, bilateral trade value amounted up to a new historical peak, USD 862 million, according to the statistics of the customs, 36.4% increased comparing with the corresponding period of the last year, among which, China exported for USD 725 million, 45.7% increased, imported for USD 137 million, 2.0% increased. According to the statistics of Myanmar, China has become its second largest trade partner, only second to Thailand.
According to statistics of China customs, in 2003 bilateral trade value reached USD 1.077 billion, 25% more than that of 2002, which created a new historical record again. Among that, China exported for USD 908 million and imported for USD 170 million, 25.2% and 23.8% more respectively than 2002. China enjoyed a favorable balance of USD 738 million.
During the first half of the year 2004, the bilateral trade value between China and Myanmar was USD 548 million, 0.3% decreased comparing with the corresponding period of the last year, among which, China exported for USD 429 million and imported for USD 119 million, 6% less and 28.1% more than that of last year, correspondingly. During the first half the year 2004, border trade between China and Myanmar (Yunnan Province and Myanmar) maintained a rapid increasing tendency, totally valued USD 200 million, among which, China exported for USD 110 million and Imported for USD 90 million, 24.9% and 20.8% increased correspondingly, Border trade value constituted 36.2% of the total. Major products China exported to Myanmar includes mechanical and electrical products, textile, base metal, motorcycles, spare parts and chemicals etc. China mainly import timber logs, lumbers, agricultural products, mineral products and so on.
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Bilateral Visits