Maritime trade falls in Oct-Aug
THE VALUE of Myanmar’s maritime trade in the period from 1 October to 30 August in the current fiscal year totalled US$22.64 billion, a decline of over $1.39 billion compared with the corresponding period of the previous FY, according to data from the Ministry of Commerce. In the October-August period, maritime exports were valued at $8.86 billion, while imports were registered at $13.77 billion.
Compared to the year-ago period, imports were lower by $1.15 billion, while exports registered a drop of $240.6 million. In the past eleven months, the value of trade through the border gates has been estimated at $9.37 billion, an increase of $1.23 billion amid tight confiscation of illegal untaxed goods and trade suspension by Myanmar’s main trade partner, China, coupled with the closure of the Mandalay-Muse Road, a major trading route. During the period, the country’s total external trade has topped $32.02 billion, which is lower than the $32.18 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.
Global New Light