Myanmar’s exports soar to $8.15 bln as of 23 Sept

Myanmar’s exports significantly surged to US$8.15 billion between 1 April and 23 September in the current financial year from $6.8 billion recorded in the corresponding period of last year.
The figures reflected a sharp increase of over $1.3 billion compared with a year-ago period, according to data from the Ministry of Commerce.
The negative pandemic consequences dealt a severe blow to the agriculture, livestock and mineral sectors during the past mini-budget period.  As China eases some virus rules and regulations, export sees a slight increase in the agriculture sector this FY. At present, the CMP garment sector raises its head again after the vaccination programme for the factory workers as well.
Of the seven export groups, fisheries, mineral and other exports showed a decrease compared to the year-ago period.
The values of export were registered at $1.659 million for agri-products, $16.88 million for livestock, $326 million for fishery products, $169 million for minerals, $73.668 million for forest products, over $5.67 billion for manufactured goods, and $243 million for other goods.
Myanmar’s top export markets are listed as China, Thailand, Japan, India, the USA, Spain, Germany, the UK, ROK and the Netherlands.
The country’s export sector relies more on the agricultural and manufacturing sectors. The Ministry of Commerce is focusing on reducing the trade deficit, export promotion, import substitution and market diversification. — KK/GNLM