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July 09, 2020

Maritime trade up $131.96 mln last month

The value of Myanmar’s maritime trade for the period between 1 and 25 October in the 2019-2020 fiscal year totaled US$1.77 billion, an increase of over $131.96 million compared to the year-ago period, according to the Ministry of Commerce.

The Yangon Port is the main gateway for Myanmar’s maritime trade. Photo: Phoe Khwar

During the previous period, maritime exports were valued at $747.38 million, while imports were registered at $1.028 billion. Compared to the same period in the 2018-2019 fiscal year, imports were lower by $16 million, while exports registered a rise of $148 million.
During the same period, the value of trade through the border gates was estimated at $598.8 million, an increase of $20.69 million amid the strict confiscation of illegal and untaxed goods, and the suspension of trade by Myanmar’s main trade partner, China.
Meanwhile, the country’s total external trade reached $2.37 billion, which was higher than the $2.22 billion recorded in the year-ago
period.
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 involved in sea trade. 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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