The import value of goods traded through the Myawaddy gate dropped by some US$50 million, a week prior to the end of the 2017-2018 fiscal year (FY), compared with the 2016-2017 FY, according to state media.
The changes in the car import policy in 2018 and a high tax rate have contributed to a steep drop in the import value at the Myawady gate. During the nearly two-month suspension of automobile trade, more than 2,000 vehicles were stranded at the Myawady gate. However, a high volume of fishery products are exported daily through the Myawady gate. Trade through the Myawady gate from 1 April 2017 to 23
March 2018 in the 2017-2018 FY fetched $878 million, while the gate recorded trade worth some $907 million in the same period last FY, the report said.