Myanmar (Burma)

Burma (Myanmar) ranked No. 83 in total trade value through June with a total of $674.65 million. Exports totaled $191.69 million and Imports totaled $482.95 million, a deficit of $291.26 million.

U.S. trade with Myanmar (Burma) rose to $674.65 million through June

Myanmar (Burma)’s trade with the United States rose to $674.65 million through the first six months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 39.47 percent above its total trade during the same time period last year. U.S. exports to Myanmar (Burma) increased 27.01 percent while U.S. imports from Myanmar (Burma) rose 45.13 percent. The U.S. deficit with Myanmar (Burma) was $291.26 million.

Through June, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of Los Angeles; No. 2 Port of Newark; No. 3 Port of Savannah, Ga.; No. 4 Port of Long Beach; and No. 5 Port of Houston. During the same period the previous year, the top five were No. 1 Port of Los Angeles; No. 2 Port of Newark; No. 3 John F. Kennedy International Airport; No. 4 Port of Savannah, Ga. and No. 5 Port of Long Beach. In the current time period, the top five accounted for 63.93 percent of Myanmar (Burma)’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Los Angeles rose 45.91 percent to $222.19 million.
    Exports rose 10.83 percent to $41.21 million. Imports rose 57.24 percent to $180.98 million.
  • Trade with No. 2 Port of Newark rose 36.97 percent to $91.49 million.
    Exports rose 31.67 percent to $2.17 million. Imports rose 37.11 percent to $89.32 million.
  • Trade with No. 3 Port of Savannah, Ga. rose 80.41 percent to $47.48 million.
    Exports rose 253.69 percent to $18.63 million. Imports rose 37.06 percent to $28.85 million.
  • Trade with No. 4 Port of Long Beach rose 66.96 percent to $41.76 million.
    Exports rose 30.27 percent to $18.71 million. Imports rose 116.43 percent to $23.05 million.
  • Trade with No. 5 Port of Houston rose 23.74 percent to $28.39 million.
    Exports rose 11.98 percent to $24.6 million. Imports rose 289.21 percent to $3.79 million.

Myanmar (Burma) ranked No. 83 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 95.

Meanwhile, total U.S. trade with the world increased to $1.77 trillion, down 57.4 percent compared to the same period last year. The nation’s exports dropped 58.23 percent to $687.16 billion; imports dropped 56.85 percent to $1.08 trillion. The nation’s top five countries so far this year, by value, are Canada; Mexico; China; Japan and Germany. The overall trade deficit was $391.01 billion, down compared to the same period of last year when the deficit was $853.23 billion.

The top five U.S. exports to Myanmar (Burma) by value through June were the categories of Soybean oilcake, other solid residue, not ground; Wheat; Passenger vehicles; Non-woven fabric; and Plastics, respectively. They accounted for 52.1 percent of total exports to Myanmar (Burma).

The value of the top five categories of U.S. imports from Myanmar (Burma) –– Travel goods, including handbags, wallets, jewelry; Garments, of felt; Athletic, other textile shoes; Women’s or girls’ suits, not knit; and Precious stones –– accounted for 49.97 percent of all inbound shipments.

Looking more closely at U.S. exports to Myanmar (Burma):

  • Soybean oilcake, other solid residue, not ground rose 31.31 percent compared to last year to $42.81 million.
  • Wheat rose 59.88 percent compared to last year to $20.12 million.
  • Passenger vehicles rose 109.21 percent compared to last year to $13.36 million.
  • Non-woven fabric rose 499.88 percent compared to last year to $12.35 million.
  • Plastics fell 34.48 percent compared to last year to $11.23 million.

Looking more closely at U.S. imports from Myanmar (Burma):

  • Travel goods, including handbags, wallets, jewelry rose 88.21 percent compared to last year to $162.79 million.
  • Garments, of felt rose 51.02 percent compared to last year to $23.19 million.
  • Athletic, other textile shoes rose 54.56 percent compared to last year to $20.41 million.
  • Women’s or girls’ suits, not knit rose 11.56 percent compared to last year to $18.84 million.
  • Precious stones fell 47.64 percent compared to last year to $16.13 million.

In the latest annual figures available, Myanmar (Burma) recorded $1.17 billion in trade with the United States. Total U.S. exports to Myanmar (Burma) were $ 344.99 million and imports from Myanmar (Burma) were $820.54 million. The U.S. deficit with Myanmar (Burma) was $475.56 million.