Export value in two week this FY reaches over $540 m

Export value in two week this FY reaches over $540 m
Published 22 October 2019

 

Export value in over two weeks of the current fiscal year has reached over US$540 million exceeding over US$160 million compared to the same period of last fiscal year, according to sources form the ministry of commerce.

From October 1 to 11 in 2019-2020 financial year, export value amounted to US$545.674 million whereas the same period of last year saw US$384.768 million. Therefore, this year  saw an additional amount of US$384.768 million.

Myanmar mainly exports agricultural products, animal products, marine products, forest products, mineral products, finished industrial goods (CMP) and others.

In order to reduce trade deficit and improve trade surplus, the ministry of commerce is taking measures such as adopting national export strategic plans, relaxing the procedures, encouraging the private sector, getting GSP and extending export market.

In 2018-2019 FY, the total export value was expected to hit US$15.3 billion. When the financial year ended, export value reached nearly US$17 billion exceeding US$473.218 million compared to the year before.