October 20, 2017

Jade exports bring Myanmar $500 mil up to December

Merchants evaluate jade stones at Myanmar Jade Fair at the Maniyadana Emporium in Nay Pyi Taw, in December 2015. Photo: MNA
Merchants evaluate jade stones at Myanmar Jade Fair at the Maniyadana Emporium in Nay Pyi Taw, in December 2015. Photo: MNA

MYANMAR earned US$567 million from jade exports in the first nine months (April-December) of the 2015-2016 fiscal year, according to a source from the Ministry of Commerce.
Within that amount, border trade accounted for to $305 million, while $262 million were earned through navigation channels.
The entire mining sector, whose primary product is jade, earned a total of $895 million in the same period.
The sector is expected to bring in over $1 billion by the end of the 2015-16 fiscal year, the ministry source said.
According to official statistics, foreign investment in the mining sector amounted to $2.87 billion in 70 projects, accounting for 4.85 percent of the total as of December 2015. Myanmar invited investment into the sector in 1988, and the sector is now the country’s fifth-largest target of foreign investment.—Xinhua

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