During eight months of this fiscal year, Myanmar earned over 340 million US dollars from exports of over 1,500 tons of jade, down 260.768 million USD, compared with the same period last year, said an official of the Commerce Ministry.
From October 1 to May 31 of 2018-2019 FY, Myanmar exported 1547.380 tons of jade worth 343.991 billion USD. Last year, Myanmar exported 1997.190 tons of jade, fetching 604.759 million USD.
Myanmar has restricted exports of timber and mining products, both prominent natural resources of the country. As a result, the natural resource sector’s export earnings have declined this year.
Khin Maung Lwin, the spokesperson of the Commerce Ministry said: “A decline in jade export is linked to jade exhibitions. We can export more jades when we hold more jade exhibitions.”
A total of 3,108 jade lots were sold through the open tender system in June, according to the state-owned media.
The ministry collects a 15-per-cent special good tax on uncut jade stones, 10 per cent on uncut gemstones, three per cent on finished jewellery and one per cent on finished gems.
