CMP exports see over 19 pc increase in nearly nine months

CMP exports see over 19 pc increase in nearly nine months
Published 3 July 2019

For about nine months into the current fiscal year, the exports of CMP sector increased by over 1.1 billion US dollars, up over 19 per cent, according to the figures from the Ministry of Commerce. 

From October 1 to June 21 of 2018-2019 fiscal year, export earnings hit over 12.109 billion US dollars, 1.99 billion USD more compared with the same period last year. An increase in export earnings is linked to more exports of CMP products. 

In around eight months of this fiscal year, the export earnings saw a 19.49-per-cent increase as the exports increased by 1.199 billion USD compared with the same period last year. 

In the same period, the export earnings from agro products increased by over 260 million USD, compared with last year, animal products, by over 190 million USD and the marine product, over42 million USD. 

Footwear and bag production industries are running under the CMP system. Myanmar mainly exports agro, animal, marine, forest and mining products and CMP products. 

As the government has restricted exports of forest and mining products, export earnings of these products have declined. 

In 2018-2019 FY, the total trade value is expected to hit 31.1 billion USD—exports of 15.3 billion USD and imports of 15.8 billion USD.