13 Nov
Myanmar’s exports between 1 October and 6 November in the current financial year 2020-2021 plummeted to US$1.03 billion, reflecting a decrease of $1.09 billion compared with a year-ago period of the previous budget year, according to the data from the Ministry of Commerce.
During the corresponding period in the previous FY, exports stood at $2.124 billion, according to the data released by the ministry. Of the seven export groups, only agricultural exports showed a slight increase. Meanwhile, exports of livestock, forest products, minerals, fishery products, finished industrial goods and other goods declined amid the COVID-19 negative impacts. As of 6 November, export values have registered $358.46 million for agro products, $4.96 million for livestock, $83.87 million for fishery products, $127.15 million for minerals, $9.4 million for forest products, $417 million for manufactured goods, and over $31 million for other goods. The country’s export sector relies more on the agriculture and manufacturing sectors. The Ministry of Commerce is focusing on export promotion to reduce the trade deficit. Since 2011, the Ministry of Commerce has adhered to its reform policy. A series of moves to liberalize and open the economy have been introduced through policy development to improve the trade environment.
Ko Khant (Translated by EMM)
