Daily Archives: September 23, 2021

The value of trade between Myanmar and Germany from October to July of the current financial year 2020-2021 exceeded US$460 million, according to data of the Ministry of Commerce. Myanmar’s export to Germany surpassed its import, with $349.882 million worth of export and $110.79 million valued import, according to the statistics released by the Ministry of Commerce. Beyond the regional trade regime, Myanmar has established trade links with EU members.

Germany is the biggest trade partner of Myanmar in European Union, followed by Spain. The main export items are rice, pulses, tea leaf, coffee, garments on a Cut-Make-Pack basis and fisheries. Meanwhile, machinery, data-processing equipment, electrical and optical goods, chemical products, motor vehicles and parts and pharmaceutical products, cosmetics, food and beverages and consumer goods are imported into Myanmar.

Myanmar reinstated the EU’s Generalized Scheme of Preference starting from 19th July 2013. Myanmar can enjoy GSP for the export of fisheries, rice, pulses, agro products, bamboo and rattan finished products, forestry products, apparel and finished industrial goods. Trade value with Germany was registered at $823.7 million in the last FY 2019-2020, $821.5 million in the FY 2018-2019, $373 million in the past mini-budget period (April-September 2018), $584 million in 2017-2018 FY, $342 million in 2016-2017 FY and $153 million in FY 2015-16, respectively.

Source: The Global New Light of Myanmar

Myanmar has exported more than 2.2 million tonnes of corn to foreign countries in the current financial year 2020-2021, said U Min Khaing, the chair of the Myanmar Corn Industrial Association said. Of 2.2 million tonnes, about 1.6 million tonnes of corn were delivered to Thailand, whereas the remaining corns were conveyed to China, India and Viet Nam. This year, the corn fetched a good price of US$260-270 per tonne.

It was priced only $200-230 per tonne during the year-ago period. Thailand gives the green light to corn imports through Maesot under zero tariff (with Form-D), between 1 February and 31 August. Thailand has granted tax exemption on corn imports between February and August. However, Thailand imposed a maximum tax rate of 73 per cent on corn import to protect the rights of their growers if the corn is imported during the corn season of Thailand.

During the last FY2019-2020, the country exported 2.2 million tonnes of corns to the external market, with an estimated value of $360 million, the Ministry of Commerce’s data showed. Myanmar is the second-largest exporter of corn among regional countries. At present, corn is cultivated in Shan, Kachin, Kayah and Kayin states and Mandalay, Sagaing and Magway regions. The country yearly produces 2.5-3 million tonnes of corn.

Source: The Global New Light of Myanmar