Myanmar’s exports between 1 October and 11 January in the 2018-2019 fiscal year touched a high of over US$4 billion, a rise of nearly $284 million compared with the corresponding period of the previous fiscal, according to data from the Ministry of Commerce.
During the same period in the previous financial year, exports were registered at $3.7 billion. Of the seven export groups, agriculture, livestock, fisheries, and finished industrial goods showed an increase in exports from the previous fiscal year, while shipments of minerals, forest products, and other goods declined.
Export values were registered at $868 million for agro products, $196 million for livestock, $251 million for fishery products, $300.9 million for minerals, $50.58 million for forest products, $2.18 billion for manufactured goods, and $211.35 million for other goods.
The country’s export sector relies more on agriculture and manufacturing. Export earnings from the CMP (cut-make-pack) garment businesses are rising, while reliance on natural resources such as natural gas and jade is lessening.
Myanmar exports goods through the sea and border trade gates. The country’s maritime exports increased by $363.75 million compared with the corresponding period of the previous FY to touch $2.468 billion, while border exports fell by $79 million to $1.59 billion in the October-January period.
The Ministry of Commerce is focusing on promoting exports to reduce the trade deficit. Since 2011, the Ministry of Commerce has adhered to its reform policy. A series of reforms have also been introduced to liberalize and open the market for policy development to make the environment more viable for trade, said the Permanent Secretary at the Myanmar Global Investment Forum 2018 held on 12 September at MICCII in Nay Pyi Taw.
— Ko Khant (Translated by Ei Myat Mon)