Myanmar's sea trade registers over US$10bil in 5 months


  • Myanmar
  • Saturday, 22 Feb 2020

Sea farmers collecting algae plants on Inle Lake near Nyaung Shwe township in South Shan State. Myanmar's trade through sea routes registered over US$10.4bil in the first five months of the present fiscal year (FY) 2019-2020, which started in October, according to figures released by the Commerce Ministry on Saturday (Feb 22). - AFP

YANGON: Myanmar's trade through sea routes registered over US$10.4bil in the first five months of the present fiscal year (FY) 2019-2020, which started in October, according to figures released by the Commerce Ministry on Saturday (Feb 22).

The country fetched over US$4.14bil from maritime export while its import shared over US$6.33bil as of Feb 14 this FY.

This fiscal year's sea trade saw a significant increase by over US$1.58bil, compared to the same period of the last fiscal year 2018-2019, the ministry's figures showed.

Approximately 80% of Myanmar's foreign trade is done through sea-borne trade and its border trade is conducted with neighbouring countries -- China, Thailand, India and Bangladesh, respectively.

From Oc. 1, 2019 to Feb. 14 of this FY, the country's foreign trade totalled over US$14.5bil with over US$6.76bil in export and US7.77bil in import.

Myanmar mainly exports agricultural products, animal products, marine products, minerals, forest products, manufacturing goods and others to foreign trade partner countries while capital goods, intermediate goods and consumer goods are imported. - Xinhua/Asian News Network
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Myanmar , Sea Trade , Big Money

   

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