US$420 million has been earned from overseas sales of jade over the past two months this fiscal year exceeding US$419 million compared to the same period of last year, Permanent Secretary Khin Maung Lwin of the Ministry of Commerce told The Daily Eleven. 

From October 1 to December 6 in the current 2019-2020 financial year, jade export valued at US$420 million whereas last year saw just about US$1 million. 

"This year, we earned US$420 million. The amount exceeded about US$419 million because last year's amount was just 1 million. This year, we held more gems emporiums. But we had few emporiums in the same period of last year. 

The more jade sales are held, the more earnings there are, he said. 

Mid-Year Myanma Gems Emporium was held at Mani Yadana Jade Hall in Nay Pyi Taw from September 16 to 25 under the sponsorship of the Ministry of Natural Resources and Environmental Conservation. 

At the emporium, 15 percent special commodity tax was imposed on uncut jade stones and 10 percent tax on other gems such as ruby and sapphire excluding diamond and emerald. 

Except for diamond and emerald, five percent special commodity tax was imposed on other gems-embedded jewelry.