Maritime trade up $2.27 bln in 2019-20FY

Maritime trade up $2.27 bln in 2019-20FY

 

The value of Myanmar’s maritime trade for the period between 1 October and 20 March in the 2019-2020 fiscal year totalled US$13.49 billion, an increase of over $2.27 billion compared to the year-ago period, according to the Ministry of Commerce.

While maritime exports were valued at $5.23 billion, imports were registered at $8.25 billion. Compared to the same period in the 2018-2019 fiscal year, imports were higher by $1.34 billion, while exports registered an increase of $932 million. Meanwhile, the value of trade through the border crossings was estimated at $5.19 billion, an increase of $501.37 million.

The country’s total external trade reached $18.68 billion, which was higher than the $15.9 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.

Source: The Global New Light of Myanmar

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