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July 16, 2020

Lower imports drag maritime trade down $197 mln

Workers select fish at the Nyaungtan Jetty in Yangon.  Photo: Phoe Khwar

The value of Myanmar’s maritime trade for the period from 1 October, 2018 to 1 March, 2019 in the current fiscal year totalled US$10 billion, a decrease of $197.9 million compared with the corresponding period of the previous FY, according to data provided by the Ministry of Commerce.
In the October-March period, maritime imports outperformed exports, which saw a sharp decline of $395 million from the year-ago period. Maritime exports were valued at $3.77 billion, while imports were registered at $6.35 billion.
During the four-month period, the value of trade through the border gates exceeded $4 billion, an increase of $145 million amid tight confiscation and trade suspension by Myanmar’s main trade partner China.
The country’s total external trade topped $14.17 billion, a decline of $52 million from the previous FY.
Myanmar exports agricultural products, fishery products, minerals, livestock, forest products, finished industrial goods, and other products, while it imports capital goods, consumer goods, and raw industrial materials.
The country currently has nine ports incorporated with sea trade. The Yangon Port is the main gateway for Myanmar’s maritime trade, and includes the Yangon inner terminals and the outer Thilawa Port.


— Mon Mon (Translated by Ei Myat Mon)


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