Mar­itime trade down by over $50 mil­lion

Mizzima Business Weekly - - CONTENTS -

Myan­mar’s mar­itime trade as of 29 March this 2018-2019 Fis­cal Year has touched US$12.09 bil­lion, down by over $50 mil­lion or 0.44 per cent, matched against the cor­re­spond­ing pe­riod of the last FY, ac­cord­ing to the Min­istry of Com­merce, state me­dia re­ported.

In the first six months of this FY, the coun­try’s to­tal mar­itime ex­ports in­clude al­most US$4.6 bil­lion in ex­ports and nearly $7.5 bil­lion in im­ports. Dur­ing the same pe­riod in the pre­vi­ous FY, Myan­mar’s mar­itime trade stood at $12.14 bil­lion, with ex­ports worth about $4.2 bil­lion and im­ports worth $7.9 bil­lion. When com­pared with the cor­re­spond­ing pe­riod last FY, this FY saw an in­crease in value of ex­ports by $400 mil­lion, how­ever, im­port value de­clined by over $460 mil­lion. Roughly 80 per cent of the coun­try’s to­tal trade is con­ducted through the mar­itime routes.

Ac­cord­ing to the min­istry, Myan­mar’s mar­itime trade stood at $14.6 bil­lion in the 2012-2013FY, $20.375 bil­lion in the 2013-2014FY, $22.369 bil­lion in the 2014-2015FY, $20.56 bil­lion in the 2015-2016FY, $21.432 bil­lion in the 2016-2017FY, and $25.019 bil­lion in the 20172018FY. In the 2018 six-month mini-bud­get pe­riod be­tween April and Septem­ber, the coun­try shipped goods worth $14.231 bil­lion via sea. Also, the coun­try de­liv­ered com­modi­ties val­ued at $4.8 bil­lion to part­ner coun­tries through its bor­der points of en­try dur­ing the pe­riod. The number in­creased by $191 mil­lion in com­par­i­son with last FY.

Yan­gon Port. Photo: EPA

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