Australian sanctions on Myanmar between 1991 and 2011 weighed heavily on bilateral trade. There are still targeted financial sanctions and travel bans on members of Myanmar’s military. Myanmar is currently Australia’s 75th largest trading partner. Australia sent $272 million of goods and service exports to the country in 2018, mostly wheat. Imports from Myanmar totalled $101 million, mainly seafood, clothing and footwear and travel goods.
Service exports to Myanmar amounted to $110 million in 2018. Student enrolments abroad and in Australia are very small, given low income levels in Myanmar. Australian government aid to Myanmar is estimated at $84 million (2.1% of the aid budget) for 2019-20, supporting education, governance, infrastructure, trade and agriculture.
Australian investment in Myanmar is very low. Australian companies such as ANZ bank, Woodside and Bluescope Steel established a commercial presence in Myanmar in 2013. The country’s large oil and gas reserves also presents opportunities for Australian mining companies.