Maritime trade up $1.9 bln in current FY

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A cargo ship is anchored in the Yangon River.  Photo: Phoe Khwar

The value of Myanmar’s maritime trade for the period between 1 October and 1 May in the 2019-2020 fiscal year totalled US$15.85 billion, an increase of over $1.9 billion compared to the year-ago period, according to the Ministry of Commerce.
While maritime exports were valued at $6 billion, imports were registered at $9.8 billion. Compared to the same period in the 2018-2019 fiscal year, imports were higher by $1.19 billion, while exports registered an increase of $722.6 million.
Meanwhile, the value of trade through the borders was estimated at $6.7 billion, an increase of $351 million.
The country’s total external trade reached $22.6 billion, which was higher than the $20.35 billion recorded in the year-ago period.
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. Yangon Port is the main gateway for Myanmar’s maritime trade and includes the Yangon inner terminals and the outer Thilawa Port. — Ko Htet (Translated by Ei Myat Mon)

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