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September 23, 2019

Maritime trade totals $6.26 bln in Q1

A cargo vessel carrying containers docks at a terminal in Yangon. Photo: Phoe Khwar

The value of Myanmar’s maritime trade in the first quarter of the current fiscal year was estimated at US$6.26 billion, an increase of $177 million compared with the corresponding period of the 2017-2018 Fiscal Year, according to data from the Ministry of Commerce.
Between 1 October and 4 January, imports through the sea routes outperformed exports, with the value of exports totalling $2.27 billion and imports reaching $3.9 billion.
For the same period, the value of trade through the border camps exceeded $2.16 billion. Border trade witnessed a drastic fall of $71 million owing to tight confiscation and trade suspension by Myanmar’s main trade partner, China.
The country’s external trade topped $8.4 billion, an increase of $105 million from the same period of 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 to facilitate sea trade. The Yangon Port serves as the main gateway for maritime trade, with goods shipped through the Yangon inner terminals and the outer Thilawa Port.

 

—Mon Mon (Translated by Ei Myat Mon)

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