Myanmar Monthly Business Brief, January 2026

Economy

Phase II and Phase III of General Election conducted across 200 townships

Phase I of the 2025 general election was held on 15 January at designated polling stations in 100 townships and 25 January 2026 December at 100 townships across regions and states. Phase I, was held on 28 December in 102 townships. General elections were held in 302 townships of Myanmar.

Finance

CBM relaxed mandatory FE conversion percentage on export earning

The Central Bank of Myanmar announced on 7 January 2026 that the mandatory foreign currency conversion. Instead of 25 percent of the export earnings received from exports, exporters shall exchange only 15 percent for Myanmar kyats according to the CBM reference rate ( K 2100/USD). The notification shall take effect on 1 January 2026. The remaining 85 percent can be traded with online trading rate (about K 3,650/USD).

FE market rate stabled; Gold Prices Fluctuate

The kyat stabled around K4,036 per US dollar on average at market rate in January. The Central Bank of Myanmar (CBM) intervened throughout the month, selling millions of US dollars, yuan, and baht to stabilize the exchange rate and support imports of essential goods. CBM injected US dollars 95 million and  Baht 60 million in January, into the edible oil, fuel, and CMP sectors.

Gold prices were increasing throughout the month from 9.1 million kyats in December, closing at 106 million kyats per tickle for selling at the end of January.  Domestic fuel prices showed a stable around K 2300 per litre in January.

Trade

Import licence/permit applications submitted by importers commencing will be granted a period of 180 days

The Department of Trade under the Ministry of Commerce released announcement 4/2025, stating that import licence/permit applications submitted by importers commencing on 1 January 2026 will be granted a period of 180 days. For applying for import licences intended for domestic trading activities, each company is allowed to submit only one application per month for the same type of goods. Upon this, the single application will be approved. The import licence/ permit applications that exceed the 180-day validity period will be automatically cancelled through Myanmar Tradenet 2.0.

Myanmar maize export to commence on 1 Feb under zero duty

MYANMAR’S maize export to Thailand with zero-tariff benefit will restart on 1 February, according to the Myanmar Corn Industrial Association.

Thailand gives green light for maize imports under zero tariff (with Form-D), between 1 February and 31 August, 2026. Myanmar ships maize to Thailand through the Yangon-Bangkok, Kaw¬thoung-Ranong maritime routes and Tachilek-Mesai. The Myawady trade channel that was previously used is currently suspended.

Maize export annually generates over US$500 million. There are over one million acres of maize farms across the country. Domestic consumption accounts for 35 per cent of total production, and the remaining 65 per cent is designated for exports.

Maize exports amounted to over $500 million in the 2023-2024 financial year, over $400 million in the 2024-2025 financial year, and over 400 million so far in the current 2025-2026 financial year.

Fishery exports net Myanmar US$278M in Apr-Dec 2025

Myanmar exported more than 227,000 metric tonnes of fish during the first nine months of the 2025–2026 financial year, which began on 1 April, earning over US$278.9 million, according to the Department of Fisheries. Myanmar exported over 113,500 metric tonnes of fish by sea, with an estimated value of $177.5 million. Over 114,000 metric tonnes of fish worth $101.36 million were exported to neighbouring countries through land borders.

Myanmar’s fish export amounted to $421 million from about 400,000 tonnes in the past FY 2024-2025 (April 2024-March 2025).

Myanmar steadily ships seafood to over 40 countries, including China, Thailand, Bangladesh and Japan through maritime and land border trade channels.

Fishery products like hilsa, rohu, river catfish, seabass, eel, shrimp and crab are exported to foreign markets, according to the Myanmar Fisheries Federation. There are over 140 fishery cold storage facilities, and the department grants annual licence renewals.

Manufacturing

Pangpet Steel Mill eyes 200,000 tonnes of pig iron in 2026–27 FY

The No 2 Steel Mill (Pangpet) in Taunggyi Township, Shan State (South), is making efforts to manufacture 200,000 tonnes of pig iron in the 2026-2027 financial year. Under the Steel Mill (Pangpet) project, 200,000 tonnes of pig iron are expected to be produced within one year. Nineteen out of 22 sub-workshops have operated on a trial run. The mill is currently working with a Russian company to manage the remaining three sub-workshops. Once all the workshops are in full swing, production of 200,000 tonnes of pig iron will be simultaneously underway.

The capacity is 200,000 tonnes per year as per the original design. The two types of iron ore can be sourced near the mill, with reserves of 70 million tonnes. Limestone is also available in the village near the mill. Dolomite can also be sourced from a place in Hopong Township about six miles away from the mill. The mill will call for tender to procure sand from the Pyinnyaung area and coal from the Kehsi area. The No 1 Mining Enterprise under the Ministry of Natural Resources and Environmental Conservation have sought a permit to explore raw material sites. That pig iron can be used in iron smelting operations in the No 1 Steel Mill in Myingyan.

Energy

MoE, Chinese State-owned energy firms cooperate on Thanbayakan Refinery Project

The Ministry of Energy is collaborating with State-owned energy institutions from the People’s Republic of China in implementing the Thanbayakan Refinery Project, which has a production capacity of two million tonnes of crude oil per year. The project will utilize crude oil from the Myanmar-China crude oil pipeline. It is expected to meet domestic fuel demand upon completion. Similarly, once the ongoing Thanlyin Oil Refinery project is complete, Project Phase II will be developed into a crude oil plant with an annual capacity of three million tonnes in 2028. Furthermore, a plan to capture carbon dioxide produced as a by-product of the oil refining process to manufacture dry ice is underway to reduce foreign currency outflow. Equipment to produce dry ice will be installed as soon as possible.

Transportation

Dawei Airport upgrade to support deep-seaport development

Upgrading Dawei Airport is underway and that will support the Dawei deep-seaport project. As part of the upgrade of Dawei Airport, work is ongoing to enable the airport to accommodate large cargo and passenger aircraft such as the Airbus A320. In addition to upgrading Dawei Airport, there are plans to expand circular-route flights serving Dawei, Bokpyin, and Kawthoung. The current Dawei Airport has a runway that is 12,000 feet long and 100 feet wide, and the total area of the airport is approximately 365 acres. In addition, there are two parking aprons, each 200 feet wide, and one parking apron measuring 600 by 300 feet, which together can accommodate up to five domestically operated aircraft at the same time. The upgrade of Dawei Airport is expected to contribute to improving aviation services and an increase in tourism to the Dawei region.