Mineral exports decline by $245 mln in current FY

UAT 0035 Gems 53rd Myanmar Gems Emporium copy
Myanmar’s precious pearls shown at an emporium in Nay Pyi Taw. Photo : mna

Myanmar’s exports of mineral products between 1 October and 5 July in the current financial year totalled US$1.2 billion, a decline of $245.59 million, or 16.89 per cent, from the corresponding period of the 2017-2018FY, the Ministry of Commerce reported.
Public sector mineral exports fell by more than $220 million compared to the previous fiscal to reach $389.6 million. Meanwhile, private sector exports were pegged at $819 million, a decline of over $23.26 million from the year-ago period.
During the same period in the previous fiscal, the country’s mineral exports touched $1.454 billion, with public sector exports valued at $611.963 million and private sector exports crossing $842.306 million.
Forest products and other miscellaneous items also showed a downward trend in terms of export growth in the current fiscal year. Compared with the previous FY, exports of forest products declined by $183.5 million, while shipments of miscellaneous items dropped by $463.13 million in the current fiscal.
During the 2018 mini-budget period (April-September), the country exported mineral products worth $1.034 billion.
As per the ministry’s annual trade report, Myanmar’s mineral exports amounted to $1.010 billion in the 2016-2017FY, $968 million in the 2015-2016FY, $1.498 billion in the 2014-2015FY, $1.339 billion in the 2013-2014FY, $399 million in the 2012-2013FY, and $897 million in the 2011-2012FY.
Myanmar mainly exports minerals to China and Thailand.—Shwe Khine (Translated by Khaing Thanda Lwin)

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