Frankincense and Myrrh
Both Frankincense (Boswellia caraterii) and Myrrh (Commiphora myrrha) grow as small trees or shrubs. Their natural habitat is limited to the southern part of the Arabian peninsula (The Oman and Yemen) and to northeast Africa (Ethiopia and Somalia). A different species of myrrh grows naturally in the Indian sub continent and frankincense is widely cultivated in parts of southern China.

A Frankincense Tree Frankincense(light) and Myrrh(dark) resin
Frankincense and Myrrh are perhaps best known in the western world because of their association with the Christmas story, as recounted in the gospel according to Matthew in the New Testament. Matthew tells of three Magi from the East bearing gold, frankincense and myrrh as gifts for the baby Jesus. The Magi probably followed the frankincense trade route reaching Bethlehem from the Dhofar region, in modern day Oman, through Yemen and turning north to follow the Red Sea coast to the Mediterranean. The gifts were all of great monetary value and all of local origin to the Magi.
Uses of Frankincense and Myrrh
In ancient Egypt myrrh was used for embalming the bodies of Pharaohs, and frankincense has been used in India, for many centuries, to make incense for worship.
Frankincense and myrrh have been traded throughout the Middle East for at least 3500 years. In about the 4th century A.D. frankincense and myrrh reached China where they were, and still are, used to make incense. The Chinese then developed the medicinal uses of these two trees.
The resins of the two trees are classified as herbs, in Chinese medicine and used for treating a variety of complaints including; poor circulation of blood, traumatic injury, painful swellings and other disorders related to stasis syndromes e.g. deep vein thrombosis.
Reference: http://www.itmonline.org/arts/myrrh