October 28, 2016

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Myanmar’s earning from jade export declines this FY

Merchants appraising jade stones at the 53rd Myanmar Gems Emporium in Nay Pyi Taw.
Merchants appraising jade stones at the 53rd Myanmar Gems Emporium in Nay Pyi Taw.

EXPORT earning of jade was more than US$230 million over the first half of this fiscal year, registering a decrease of over $400 million compared to the same period last year.
The export of jade went down after China’s limitation with heavy tax, an official of the Ministry of Commerce said. The country generated $700 million from the export of jade and mineral resources over the same period last year.
Jade is a major earning in the export of mineral resources. Among other countries, China is the largest jade buyer for Myanmar. About 99 per cent of the total jade export normally goes to the world’s second richest country.
Between April and September this year, the country received over $300 million from mineral export including jade, according to the figures of the Commerce Ministry.
Over the past six months this year, the export value between Myanmar and foreign trade partners reached about $13 billion including over $5.5 billion from export sector and over $7.3 billion from import sector.

 

Ki Ki

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