Myanmar maritime trade up by $115 mln as of 22 October

THE value of Myanmar’s maritime trade between 1 and 22 October of the current mini-budget period for 2021-2022 climbed up to US$1.166 billion, which reflected an increase of $115 million as against the last FY.


The figures rose from $1.05 billion during the year-ago period, according to the Ministry of Commerce.


While maritime exports were valued at $560 million, imports have registered $300.45 million.


Compared to the same period in the 2020-2021 financial year, imports fell by $144.7 million, while exports registered an increase of $259.7 million. Meanwhile, the value of trade through the border this FY was estimated at $234.9 million, which plunged drastically from $613 million registered last FY.


Myanmar’s sea trade generated $19.8 billion out of an overall trade value of $29.5 billion in the last 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 industrial raw 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 terminals and the outer Thilawa Port received over 152 larger ships of above 30,000 DWT (deadweight tonnage) in the past five months (February-June) this year after the draft limit is extended up to 10 metres with the new navigation channel accessing to inner Yangon River. — KK/GNLM