Myanmar exports slide down to $4.99 bln as of 28 January

Myanmar Customs Department’s statistic indicated that Myanmar’s exports as of 28 January in the current mini-budget period (Oct 2021-Mar 2022) slumped to US$4.99 billion, up from $5.49 billion recorded in the corresponding period of last FY2020-2021.
The figures reflected a sharp decline of over $463 million compared with a year-ago period, according to data from the Ministry of Commerce.
The negative pandemic consequences deal a severe blow to the agriculture, livestock and mineral sectors as it disrupted the transport and shut down the events. Following the closure of Sino-Myanmar border posts triggered by COVID-19 impacts and changes in China’s Customs regulations, the export sees a drastic drop in the agriculture sector this year. Moreover, Myanmar’s live cattle trade is mainly relying on China. The legitimate market has halted since late 2020. Nonetheless, Chinese traders are constantly purchasing the cattle on the black market across border between Myanmar and China, despite the suspension of cross-border trade.
At present, the CMP garment sector raises its head again after the vaccination programme to the factory workers.
Of the seven export groups, agricultural exports showed a drop of $531 million against a-year ago-period and mineral exports fell by $192.83 million and livestock export declined by $12 million. Other exports of forest products, fishery products and finished industrial goods rose.
Between 1 October 2021 and 28 January 2022, export values were registered at $1.345 billion for agro products, $3.45 million for livestock, $312.58 million for fishery products, $202 million for minerals, $50.4 million for forest products, over $1.86 billion for manufactured goods, and $217.6 million for other goods.
This year, Myanmar’s top export countries are listed China, Thailand, Japan, India, the USA, Spain, Germany, the UK, ROK and the Netherlands. —KK/GNLM