THE value of Myanmar’s maritime trade between 1 October and 19 November of the current mini-budget period 2021-2022 jumped to US$2.88 billion, which reflected an increase of $201.69 million as against last FY.
The figures soared from $2.679 billion during the year-ago period, according to the Ministry of Commerce.
While maritime exports were valued at $1.3 billion, imports were registered at $1.56 billion. Compared to the same period in the 2020-2021 financial year, imports fell by $94.768 million, while exports registered an increase of $296 million.
Meanwhile, the value of trade through the border this FY was estimated at $667.6 million, which plunged drastically from $1.34 billion registered last FY.
Myanmar’s sea trade generated $19.8 billion out of an overall trade value of $29.5 billion in the FY2020-2021, the Ministry of Commerce’s statistics indicated.
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. Yangon inner terminal and the outer Thilawa Port received more than 150 larger ships of above 30,000 DWT (deadweight tonnage) this year after the draft limit is extended up to 10 metres with the new navigation channel accessing to inner Yangon River. — KK/GNLM