Myanmar’s external trade reached nearly US$10 billion in early December for the current financial year 2023-24, as reported by the Ministry of Commerce.
Exported items include black gram, rice, broken rice, corn, green gram, rubber, pigeon pea, sesame, peanut, onion, tamarind, ginger, conjac, castor oil seeds, coffee bean, cashew seeds, cotton, tapioca, watermelon, cucumber, mango, and tissue banana in the agricultural produce category. Additionally, fish, prawns, crabs, eels, and dried fish are part of the fishery products category.
The country is actively promoting the development of industrial products for export, including composite material piles, fine wood, wooden finished products, clothes, sugar, and other final goods. Myanmar exported products to 117 countries between April and December. Notable destinations with high demand include Thailand, China, Japan, India, the United States, Germany, Poland, South Korea, Britain, Spain, Belgium, the Philippines, Indonesia, and Malaysia.
The report reveals that 5,938 companies engaged in exports and imports through various channels such as sea route, border trade route, and aviation route.
Exporters of fishery products highlighted that approximately 300 tonnes of fishery products are delivered weekly to countries such as China, India, Japan, Singapore, Malaysia, Thailand, and the United Kingdom.
To acknowledge entrepreneurs’ efforts in boosting exports, earnings from rubber exports are permitted for reinvestment in importing fertilizers. Negotiations are ongoing for exporters of rice, beans, pulses, and corn to import essential goods like domestically needed fuel oil. These trade for the current fiscal year aim to support increased exports of seasonal crops, fish, prawns, fishery products, and agricultural produce in a timely manner. — MNA/ TMT
