Myanmar Slashes Trade Target by 16% on Covid After Crippling Coup
- Reaction to coup hasn’t had big impact on trade, ministry says
- Agriculture driving trade as traditional export goods falter
Protesters demonstrate against the military coup, in Yangon, Myanmar on May 7.
Source: AFP/Getty Images
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Myanmar, which has been in turmoil since a military coup in February, cut its trade target for this year by 16%, citing the impact of Covid-19.
The government reduced its trade outlook to $29 billion, from $34.7 billion forecast around the start of the fiscal year in October, Ministry of Commerce spokesman Khin Maung Lwin said in an interview this week. That would be down 21% from the previous fiscal and the lowest in five years, according to ministry data.