The value of external trade through normal trade as of 16th December in this fiscal year was down by US$490.488263million when compared to the same period last year, according to statistics of the commerce ministry.
The value of external trade through sea trade from 1st April to 16th December amounted to US$13,742.29974million, whereas that of the last fiscal year was $14,232.788million. In the similar period, the value of external trade through borders was $4,971.912million which is up from $4,824.976749million from the previous fiscal year. The decline in normal trade value resulted from the decreases in imports, it is learnt.
The Myanmar export sector relies on natural resources such as forestry products, agriculture products and fishery products. Out of seven export groups, manufacturing goods and minerals export were down from last year. The export values as of 16th December in this fiscal year were $1,894.677mil from agriculture, $5.628mil from animal products, $365.698mil from fisheries products, $681.026mil from minerals, $166.527mil from forest products, $3409.629mil from manufacturing goods and $1199.164mil from other products respectively.
In the fishery export sector, efforts are being exerted to produce value-added products to get wider access to the highly competitive international market. Additionally, the livestock sector is also being enhanced to provide sufficient consumption to the local people and boost the export sector. Similarly, efforts are being made to bolster the volume of the manufacturing goods, according to the second five-year National Development Plan.