Posts in category: TRADING

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

A total of 357 gem trading licences are due to expire in February, Myanma Gems Enterprise notified.
Under the approval of the Ministry of Natural Resources and Environmental Conservation, those holding available licences (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 need 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 Myanma Gems Enterprise of winding down a business with one-month notice before ceasing the operation.
Licence renewal applications can be processed at Myanma Gems Enterprise (Nay Pyi Taw), Gems and Jewellery Museum in Yangon and Mandalay office, mining departments in Mogok, Lonekhin/Phakant, Monghsu and Myitkyina areas, in line with the rules and regulations. Those businesspersons holding expired licences in 2020 and 2021 were urged to reinstate them by the end of December with the relevant departments on 22 September 2023. The licences would get revoked unless it is renewed, Myanma Gems Enterprise notified. 

Source: The Global New Light of Myanmar

MYANMAR’S external trade reached nearly US$10 billion in early December for the current financial year
2023-24, as reported by the Ministry of Commerce. Exported items include black gram, rice, broken rice, corn, green gram, rubber, pigeon pea, sesame, peanut, onion, tamarind, ginger, conjac, castor oil seeds, coffee bean, cashew seeds, cotton, tapioca, watermelon, cucumber, mango, and tissue banana in the agricultural produce category. Additionally, fish, prawns, crabs, eels, and dried fish are part of the fishery products category.

The country is actively promoting the development of industrial products for export, including composite
material piles, fine wood, wooden finished products, clothes, sugar, and other final goods. Myanmar exported products to 117 countries between April and December. Notable destinations with high demand include Thailand, China, Japan, India, the United States, Germany, Poland, South Korea, Britain, Spain, Belgium, the Philippines, Indonesia, and Malaysia. The report reveals that 5,938 companies engaged in exports and imports through various channels such as sea route, border trade route, and aviation route.

Exporters of fishery products highlighted that approximately 300 tonnes of fishery products are delivered
weekly to countries such as China, India, Japan, Singapore, Malaysia, Thailand, and the United Kingdom. To acknowledge entrepreneurs’ efforts in boosting exports, earnings from rubber exports are permitted for reinvestment in importing fertilizers. Negotiations are ongoing for exporters of rice, beans, pulses, and corn to import essential goods like domestically needed fuel oil. This trade for the current fiscal year aim to support increased exports of seasonal crops, fish, prawns, fishery products, and agricultural produce in a timely manner.

Source: The Global New Light of Myanmar

Myanmar earned US$ 90 million from rice export in November which exceeded that of previous month, according to the data released from the Myanmar Rice Federation. Rice export earnings from respective volumes are US$ 63 million from 119,526 tonnes in October and US$ 90 million from 175,990 tonnes in November.

A total of 759,673 tonnes of rice were exported from April to November in this financial year, generating revenues of US$361 million. The Myanmar Rice Federation expects to export two million tonnes of rice in 2023-2024 financial year. A previous license requirement to pre-stock 100% of export rice has been reduced to 50%, according to the Myanmar Rice Federation.

Source: The Global New Light of Myanmar

Myanmar exported more than 970,000 tonnes of pulses, with an estimated value of over US$817 million, to foreign trade partners over the past seven months of the current 2023-2024 financial year beginning 1 April, the Ministry of Commerce’s statistics indicated.
The value of pulses exports by seaborne trade reached $702.572 million (over 840,226 tonnes), whereas over 134,470 tonnes of pulses worth $115.332 million were sent to the neighbouring countries through the border between 1 April and 3 November, totalling $817.9 million from exports of over 974,696 tonnes.
Myanmar’s pulses exports amounted to over $1.47 billion from over 1.9 million tonnes in the previous FY 2022-2023, the Ministry of Commerce’s statistics indicated.
Myanmar mainly exports black grams, green grams and pigeon peas to foreign markets. Of them, black grams and pigeon peas are primarily shipped to India while green grams are exported to China and Europe.
India has growing demand and consumption requirements for black grams and pigeon peas. According to a Memorandum of Understanding between Myanmar and India signed on 18 June 2021, India will import 250,000 tonnes of black gram and 100,000 tonnes of pigeon peas (tur) from Myanmar for five consecutive years from 2021-2022 financial year to 2025-2026 FY. This G-to-G pact will not affect the pulses’ annual quota set by India. Myanmar’s exporters are also entitled to deliver the pulses to India under that annual quota.
The prevailing market prices are K2.865 million per tonne of black gram (urad) and K3.9 million per tonne of pigeon pea (tur).
Black grams which India primarily purchases are commonly grown only in Myanmar, whereas pigeon peas, green grams and chickpeas are grown in African countries and Australia, Myanmar Pulses, Beans, Maize and Sesame Seeds Merchants Association stated. 

Source: The Global New Light of Myanmar

Myanmar has been implementing the National Export Strategy (NES) 2020-2025 to bolster exports.

MYANMAR’s external trade amounted to over US$18 billion as of 3 November in the current financial year 2023-2024 beginning 1 April, according to the Ministry of Commerce.
Myanmar’s export was worth over $8.664 billion whereas the country’s import was valued at $9.7 billion between 1 April and 3 November.
Myanmar’s seaborne trade value crossed over $13.12 billion this FY, while border trade was valued at $5.32 billion.
The trade figure over the past seven months shrank from $20.5 billion recorded in the corresponding period last FY, indicating a sharp drop of over $2.078 billion.
Myanmar exports agricultural produce, 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 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

Myanmar carried out trade with foreign trade partners through maritime trade and border trade channels.
China, Thailand and Singapore are the leading trade partners with Myanmar in the first half months (April-September) of the current financial year 2023-2024, according to the Ministry of Commerce.
Myanmar’s foreign trade totalled US$16.077 billion in H1, with exports worth $7.623 billion and imports valued at $8.454 billion.
China stood as the main trade partner of Myanmar in H1, with the trade value reaching $4.503 billion, comprising exports worth $1.54 billion and imports worth $2.96 billion, followed by Thailand and Singapore respectively.
The value of trade between Myanmar and Thailand amounted to $3.068 billion, with exports worth $2.035 billion and imports worth $1.833 billion.
The trade value with Singapore hit $1.812 billion, with exports worth $72.356 million and imports worth $1.74 billion.
Myanmar carried out trade with foreign trade partners through maritime trade and border trade channels.

Source: The Global New Light of Myanmar

The trade volume reached US$16,551.306 million in the first six months of the 2023-2024 financial year. From 1 April to 6 October, Myanmar exported $8,712.336 million and imported $7,838.97 million. Imports exceeded exports by over $870 million, resulting in a trade deficit of $873.366 million.
Myanmar exports agricultural produce, livestock products, fishery products, minerals products, forest products, finished industrial products, and other items to foreign countries. Investment goods, commercial raw materials, consumer goods, CMP raw materials, etc. are primarily imported from foreign countries.
To boost Myanmar’s exports, the National Export Strategy (NES) 2020-2025 is currently in effect. The key priority sectors of the NES 2020-2025 include agriculture-based food production, textile and clothing, industrial and electrical, fisheries, forest products, digital products and services, logistics services, quality management, trade information services, innovation and entrepreneurship, among others.

Source: The Global New Light of Myanmar

MYANMAR’s external trade plunged to US$15.98 billion in the H1 (April-September) of the current Financial Year 2023-2024 from $16.98 billion recorded in the year-ago period, indicating a decrease of over $1 billion, the Ministry of Commerce’s statistics showed.
Myanmar’s export was worth $7.58 billion whereas the country’s import was valued at $8.4 billion between 1 April and 29 September of the current FY.
Myanmar’s seaborne trade value crossed over $11.246 billion this FY, while border trade was valued at $4.7 billion in the H1.
Myanmar exports agricultural produce, 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 to boost exports and the priority sectors of the NES include agricultural produce, garment and apparel, industrial and electronic devices, fishery businesses, forest products, digital manufacturing and service, logistic services, quality management, trade information service, innovation and entrepreneurship sectors. 

Source: The Global New Light of Myanmar