Posts in category: TRADING

Seeking an import licence for the goods before arrival at the port is obligatory, and failure to do so is subject to a fine and sentence under the existing laws, as declared by the Trade Department under the Ministry of Commerce on 5 April.
In accordance with Chapter IV of the Export and Import Law, no person shall export or import restricted, prohibited and banned goods under Section 5. Without obtaining a permit, no one shall be allowed to export and import the specified goods that need to seek licences in accord with Section 6. A person who has obtained a permit or licence shall not break the licence conditions under Section 7.
According to Chapter V stating offences and penalties, whoever violates those prohibitions contained in Section 5 or Section 6 is convicted and shall be punished with imprisonment for a term not exceeding three years or with a fine or with both under Section 8. If a person holding any permit is found to violate prohibitions contained in Chapter VII, that one shall be punished with imprisonment for a term not exceeding three years or with a fine or with both under Section 9. Any person who attempts to commit or abet in the commission of any offences obtained in the law shall be punished, and exhibits will be confiscated under Section 10.
Thus, the Trade Department warned the exporters and importers of penalties for non-compliance with the Export and Import Law, directives and guidelines and informed them to seek licences first as pre-arrival documentation for all types of shipment by air, sea and land road. 

Source: The Global New Light of Myanmar

MYANMAR’s external trade with foreign partners reached over US$27.758 billion as of 1 March in the current financial year 2023-2024, beginning 1 April, according to the Ministry of Commerce.
Myanmar’s exports were worth over $13.378 billion, whereas the country’s imports were valued at $14.379 billion between 1 April 2023 and 1 March 2024.
Myanmar’s seaborne trade value crossed over $20.55 billion this FY, while border trade was valued at $7.207 billion.
The trade figure over the past 11 months shrank from $31.36 billion recorded in the corresponding period last FY, indicating a sharp drop of over $3.605 billion.
Myanmar exports agricultural products, animal products, minerals, forest products, and finished industrial goods, while it imports capital goods, intermediate goods, raw materials imported by the CMP enterprises and consumer goods.
Myanmar has been implementing the National Export Strategy (NES) 2020-2025 in order to bolster exports. The priority sectors of the NES comprise agricultural production, garment and apparel, industrial and electronic device, fishery business, forest product, digital manufacturing and service, logistic service, quality management, trade information service, innovation and entrepreneurship sectors.

Source: The Global New Light of Myanmar

The figures plunged from $4.99 billion year on year, showing a sharp drop of $857.145 million.

Myanmar’s border trade with the neighbouring country Thailand totalled US$4.136 billion in the past 11 months (April-March) of the current financial year 2023-2024.
The figures plunged from $4.99 billion recorded in the year-ago period, showing a sharp drop of $857.145 million.
Myanmar conducts cross-border trade with Thailand via Tachilek, Myawady, Kawthoung, Myeik, Hteekhee and Mawtaung. Of them, the Hteekhee border performed the most extensive trade worth $2.5 billion in the past 11 months.
Moreover, the trade values stood at $1.097 billion at the Myawady border, $150.597 million at Tachilek, $132.668 million at Myeik, $199.131 million at Kawthoung and $21.6 million at Mawtaung.
Myanmar conducts border trade with neighbouring countries such as China, Thailand, Bangladesh, and India. It exports agricultural produce, livestock products, fisheries, minerals, forest products, finished industrial goods, and other goods, while it brings in capital goods, intermediate goods, consumer goods, and raw materials from the CMP enterprises.

Source: The Global New Light of Myanmar

According to Daw Cho Thet Mu, the Deputy Director of the Trade Policy Division within the Trade Department under the Ministry of Commerce, the trade volume between Myanmar and Thailand reached US$4.06 billion via land borders during the period from April 2023 to February 2024 in the 2023-24 Financial Year.
Breaking down the figures, Myanmar exported goods worth $2.86 billion while importing $1.20 billion, resulting in a total trade value of $4.06 billion within the specified period.
Daw Cho Thet Mu stated, “For the Myanmar-Thai border trade from 1 April to 25 February of the 2023-24 FY, Myanmar exported goods worth $2.86 billion and imported goods worth $1.20 billion. Currently, the trade surplus stands at $1.66 billion for Myanmar”.
The main export products include CMP products, agricultural produce, and fishery products. On the other hand, Myanmar imports construction materials, equipment, machines and accessories, medicines, raw materials for factory use, fertilizers, foods, cosmetics, and electronic items from Thailand.
The Myanmar-Thai border trade posts encompass Myawady, Tachilek, Kawthoung, Myeik, Hteekhee, Mawtaung, and Maese.

Source: The Global New Light of Myanmar

Myanmar’s border trade with neighbouring Thailand amounted to US$3.87 billion in the past ten months (April-January) of the current financial year 2023-2024.
The figures plunged from $4.4 billion recorded in the year-ago period, indicating a sharp drop of $538 million.
Myanmar conducts cross-border trade with Thailand via the Tachilek, Myawady, Kawthoung, Myeik, Hteekhee and Mawtaung borders. Of them, the Hteekhee border performed the most extensive trade worth $2.38 billion in the past ten months. Moreover, the trade values stood at $1.05 billion at Myawady border post, $132.65 million at Tachilek, $113.9 million at Myeik, $171.258 million at Kawthoung and $18 million at Mawtaung.
Myanmar carries out border trade with the neighbouring countries China, Thailand, Bangladesh and India. It exports agricultural produce, livestock products, fisheries, minerals, forest products, finished industrial goods and other goods. At the same time, it brings in capital goods, intermediate goods, consumer goods and raw materials by the CMP enterprises.

Source: The Global New Light of Myanmar

The border trade value between Myanmar and China surpassed US$2.839 billion in the past ten months (April-January) of the current financial year 2023-2024, rising from $2.42 billion recorded in the year-ago period, the Ministry of Commerce’s statistics showed.
The figures reflected a remarkable increase of $412.146 million this FY compared to last FY.
Myanmar conducts cross-border trade with neighbouring China via Muse, Lweje, Chinshwehaw, Kampaiti, and Kengtung. The Muse border saw the highest trade figure of $1.836 billion.
The trade values stood at $703.066 million via Chinshwehaw, $36.266 million via Kampaiti, $98.566 million via Lweje, and $64.435 million via Kengtung.
Myanmar has been conducting border trade with the four neighbouring countries: China, Thailand, Bangladesh and India.
Export items are agricultural produce, livestock products, fisheries products, minerals, forest products, manufacturing goods and other goods. In contrast, capital goods, intermediate goods, manufacturing goods and raw materials by CMP enterprises are imported.

Source: The Global New Light of Myanmar

Myanmar’s border trade with neighbouring Thailand amounted to US$45.20 million — $10.452 million in exports and $34.768 million in imports — through the Myawady border between 1 and 28 January.

Myanmar exported peanuts, onion, dried chilli, and fresh chilli to Thailand while it imported raw plastic materials, motorbike parts, automobile parts, electrical goods, construction materials, detergents, foodstuffs, and machinery spare parts.

Furthermore, product inspections for perishable aquatic products and green items like onions and chillies at the border checkpoint are prioritized to facilitate and expedite exports.

Source: The Global New Light of Myanmar

MORE than 230 licences for gem trade are due to expire in March 2024, according to a notification from the Myanma Gems Enterprise.

Those entities holding gems and jewellery trading licences, manufacturing licences for finished gems and carvings and rough gemstone and finished products trading licences issued by the Myanma Gems Enterprise under the approval of the Ministry of Natural Resources and Environmental Conservation are required to proceed to the renewal process three months before the expiry date. They must renew them at least one month before the expiry.

Additionally, they can notify the Myanma Gems Enterprise of winding down a business with one month’s notice before ceasing the operation.

Licence renewal applications can be processed at the Myanma Gems Enterprise (Nay Pyi Taw), Gems Museum in Yangon and Mandalay Office, mining departments in Mogok, Lonkhin/Phakant, Mongshu and Myitkyina areas, in line with the rules and regulations.

Those businesspeople holding expired licences in 2020 and 2021 were urged to reinstate them with the relevant departments by 31 December 2023. Failure to renew the gem trading licence is bound to face revocation, as notified by the Myanma Gems Enterprise on 22 September 2023.

Soure: The Global New Light of Myanmar

Statistics released by the Trade Policy Division of the Department of Trade under the Ministry of Commerce revealed that the garment and natural gas sectors generated the highest export earnings between 1 April 2023 and 5 January 2024 of the 2023-24 financial year.
As of 5 January 2024, Myanmar has earned US$10.918 billion from exports during this financial year. Breaking down the details, garment exports stand as the highest earner with $3.308 billion, followed by natural gas exports with $2.543 billion.
Daw Cho Thet Mu, Deputy Director of the Trade Policy Division of the Department of Trade, stated, “Garments and natural gas exports are the primary contributors to Myanmar’s export sectors. In the first nine months of this financial year, $5.851 billion was generated from garments and natural gas exports, representing over half of the total earnings from all exports. Other significant contributors include black gram exports at $540 million, rice and broken rice exports at $490 million, corn exports at $380 million, fish exports at $260 million, green gram at $210 million, raw rubber exports at $150 million, pigeon pea at $110 million, and tissue-cultured banana exports at $90 million”.
The top ten export items that have generated the most income within the first nine months include garments (finished products), natural gas, black gram, rice and broken rice, corn, fish, green gram, raw rubber, pigeon pea, and tissue-cultured banana.
The report further indicates that, during this financial year’s mentioned period, Myanmar’s top ten countries primarily exported were Thailand, China, Japan, India, the United States, Germany, Poland, Spain, South Korea, and Italy. 

Source: The Global New Light of Myanmar

Myanmar’s border trade with neighbouring Thailand amounted to US$3.566 billion in the past nine months (April-December) of the current financial year 2023-2024.
The figures plunged from $3.95 billion in the year-ago period, indicating a sharp drop of $385.35 million.
Myanmar conducts cross-border trade with Thailand via the Tachilek, Myawady, Kawthoung, Myeik, Hteekhee and Mawtaung borders. The Hteekhee border performed the largest trade worth $2.2 billion in the past nine months. Moreover, the trade values stood at $997.4 million at Myawady border post, $115.9 million at Tachilek, $93 million at Myeik, $136.23 million at Kawthoung and $15 million at Mawtaung.
Myanmar carries out border trade with the neighbouring countries — China, Thailand, Bangladesh and India. It exports agricultural produce, livestock products, fisheries, minerals, forest products, finished industrial goods and other goods. At the same time, it brings in capital goods, intermediate goods, consumer goods and raw materials by the CMP enterprises. 

Source: The Global New Light of Myanmar