Myanmar’s exports up by 14% over past nine months

Myanmar’s exports grew by 14 per cent over the past nine months from the same period last year, according to the Ministry of Commerce’s statistics.
The value of exports significantly surged to US$12.75 billion between 1 April and 6 January in the current financial year 2022-2023 from $11.15 billion recorded in the corresponding period of the last 2021-2022 mini-budget period.
The figures reflected a sharp increase of over $1.59 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. Some border points such as Mang Wein and Kyinsankyawt were reopened after a nearly three-year suspension.
Also, the export values in forest products and livestock groups slightly climbed. At present, the CMP garment sector raises its head again after the vaccination programme for factory workers as well.
Of the seven export groups, fisheries, minerals and other exports showed a decrease compared to the year-ago period.
The values of export were registered at $2.77 million for agri-products, $18 million for livestock, $559.7 million for fishery products, $228 million for minerals, $119.9 million for forest products, over $8.68 billion for manufactured goods, and $364 million for other goods.
Myanmar targets to achieve exports worth $15.5 billion and imports worth $14 billion in the 2022-2023 FY (April-March), the National Planning Law stated.
Myanmar’s top export countries are China, Thailand, Japan and India. 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