Myanmar-Thailand border trade values cross US$3.5 bln in 9 months

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

350 gem trading licences set to expire in Feb

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 exports reach almost US$10 bln in last eight months

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 earns US$ 90 million from rice export last month

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 earns US$817 mln from 970,000+ tonnes of pulses exports as of 3 Nov

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’s foreign trade surges beyond US$18 bln in last seven months

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’s H1 trade centred on China, Thailand, and Singapore

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

US$16,551.306 mln earned from foreign trade volume in more than six months period in 2023-24 FY

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 foreign trade totals US$15.98 bln in H1 this FY

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

Myanmar-Bangladesh border trade values cross US$7 mln over past five months

Myanmar conducted cross-border trade worth US$7.865 million with neighbouring Bangladesh via Sittway and Maungtaw posts over the past five months of the current financial year 2023-2024 beginning 1 April, the Ministry of Commerce’s statistics showed.
Export ($6.89 million) outperformed imports ($0.966 million) in Myanmar-Bangladesh border trade as of 8 September.
Trade via Maungtaw is valued at $5.287 million, while the value of trade via Sittway was estimated at $1.61 million over the past five months.
Myanmar carried out border trade worth $0.58 million with Bangladesh via Maungtaw between 1 and 10 September. The Maungtaw border is aimed to reach a trade target of $1.54 million for September. It achieved 37.73 per cent of the trade target in the first 10 days. Agricultural produce, fisheries and manufacturing goods are the main export items and no import is recorded.
The goods are supplied to the Maungtaw border through the Sittway-Buthidaung-Maungtaw and Sittway-Angumaw-Maungtaw routes. Mostly, goods flowed into the border via the Sittway-Angumaw-Maungtaw route. They are shipped to Bangladesh via the Kanyinchaung Economic Zone.
The Customs Department’s statistics indicated that Myanmar’s export to Bangladesh via the Sittway border was valued at $0.034 million between 2 and 8 September. Tamarind, jujube, fresh ginger and plum jam were sent to Bangladesh.
Although there is only 70 nautical miles distance between the two countries, the cargo vessels are operated depending on the weather conditions in monsoon season.

Source: The Global New Light of Myanmar