Lower imports drag maritime trade down $107 mln

DSC 0563 copy
A container vessel is seen near Yangon Port which is the main gatway for sea trade. Photo: Phoe Khwar

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.

—Mon Mon

(Translated by Ei Myat Mon)

Share this post
Hot News
Hot News
Let’s collaborate on tourism development during COVID-19
ASEAN football body to hold virtual drawing of lots event for Suzuki Cup today
Myanmar’s foreign trade value drops by $7.39 bln this FY
Sugar price remains in bull market
Japan ranks Myanmar third-largest export country this FY
Conserve natural environment in process of development undertakings
High-quality medical supplies, primary food sold at reasonable prices in Yangon
CBM sells $144.8 mln in past eight months
YGEA sets daily gold trading limit
Over 55-year-old Bengalis receive COVID vaccines in Myebon Tsp