Sea trade reaches $11.1 billion as of last week this year

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A cargo ship at a shipping container port in Yangon.  Photo: Phoe Khwar

Trade through sea routes reached US$11.1 billion from 1 April to 24 August in the interim period of the 2018-2019 fiscal year, increasing by $1.5 billion compared with the same period last year, according to the Ministry of Commerce.
Exports through sea routes were worth over $4.5 billion, whereas the import value was recorded at $6.6 billion. Sea route export declined, while import increased.
The country’s value of imports is usually greater than its exports.
In the same period, border trade from 1 April to 24 August in the interim period of the 2018-2019 fiscal year hit US$3.3 billion, comprising $2.1 billion worth of exports and $1.1 billion worth of imports.
Eighty per cent of foreign trade is conducted through sea route, whereas the remaining is carried out through border gates.
The country exports agricultural products, fishery products, minerals, animal products, forest products, finished industrial goods and other products, while capital goods, personal goods and raw industrial materials are imported into Myanmar.

 

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