The value of Myanmar’s maritime trade for the period between 1 October and 15 November in the 2019-2020 fiscal year totaled US$3.3 billion, an increase of over $216 million compared with the year-ago period, according to data provided by the Ministry of Commerce.
Compared with the same period in the 2018-2019 fiscal, imports fell by $50.8 million, while exports registered a significant increase of $266.8 million. During the previous fiscal, maritime exports were valued at $1.37 billion, while imports were registered at $1.93 billion.
During the October-November period in the current fiscal, the value of trade through the border gates was estimated at $1.29 billion, an increase of $371.85 million amid tight confiscation of illegal, untaxed goods, and trade suspension by Myanmar’s main trade partner, China.
Meanwhile, the country’s total external trade crossed $4.59 billion, which was higher than the $4 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. 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 EMM)