February 8,2022
THE value of Myanmar’s maritime trade between 1 October and 28 January 2022 of the current mini-budget period of 2021-2022 jumped to US$7.64 billion, according to the Ministry of Commerce.
The figure reflected an increase of $485 million as against last financial year. Sea trade rose from $7.159 billion during the year-ago period, according to the Ministry of Commerce.
While maritime exports were valued at $3.513 billion, imports registered $4.13 billion. Compared to the same period in the 2020-2021FY, imports fell by $103.37 million, while exports registered an increase of $588.49 million.
Meanwhile, the value of trade through the border this FY was estimated at $2.107 billion, which dropped drastically from $4 billion registered last FY. Myanmar’s sea trade generated $19.8 billion out of an overall trade value of $29.5 billion in the previous 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 terminals and the outer Thilawa Port received a higher number of larger ships of above 30,000 DWT (Deadweight tonnage) after the draft limit is extended up to 10 metres with the new navigation channel accessing to inner Yangon River. — KK/GNLM
