The value of Myanmar’s maritime trade for the period between 1 October, 2018 and 15 March, 2019 in the current fiscal year totalled US$11 billion, a decrease of $107.46 million compared with the corresponding period of the previous FY, according to data provided by the Ministry of Commerce.
In the October-March period, maritime imports outperformed exports. However, the value of maritime imports saw a sharp decline of $4,836.6 million compared with the same period last year, whereas exports were up by $376 million. Maritime exports were valued at $4.2 billion, while imports were registered at $6.8 billion.
During the five-and-a-half-month period, the value of trade through the border gates exceeded $4.4 billion, an increase of $293 million, amid tight confiscation and trade suspension by Myanmar’s main trade partner, China.
The country’s total external trade topped $15.5 billion, an increase of $185 million from the previous FY.
Myanmar exports agricultural products, fishery products, minerals, livestock, forest products, finished industrial goods, and other products, while it imports capital goods, consumer goods, and raw industrial materials.
The country currently has nine ports involved in sea trade. The Yangon Port is the main gateway for Myanmar’s maritime trade, and includes the Yangon inner terminals and the outer Thilawa Port.
(Translated by Ei Myat Mon)