In 2018-2019 fiscal year, Myanmar earned 728.257 million US dollars from exports of 583,676.354 metric tons of marine products, according to Myanmar Fishery Federation.
From April 1, 2018 to March 31, 2019, the sector earned 720.02 million USD from exports of 590,094.93 metric tons of marine products. This period saw the highest export earnings in a decade. The export earnings increased by 8.234 million USD and export volume declined by 6418.576 metric tons.
Win Kyaing, General Secretary of Myanmar Fishery Federation (MFF) said: “Despite a decline in export volume and an increase in export earnings, there are no big changes. We will earn more money if we can export value-added products and high-priced products. We need to make efforts to reach this stage. Exports of raw fishes can earn less money and lead to low employment opportunities.”
2019 The export earnings
The export earnings hit 482 million USD in 2014-15 FY, 502 million USD in 2015-16 FY, 652 million USD in 2016-17 FY and over 680 million USD till March 19 of 2017-18 FY, according to the MFF.
Vietnam tops the list of marine products exporting countries in Asean, followed by Thailand, Indonesia and Myanmar.
Myanmar exports its marine products to more than 40 countries like Thailand, China, Saudi Arabia and Japan. Myanmar also exports more than 20 kinds of fish.
Myanmar’s marine products export volume is relatively low compared with those in neighbouring countries. The country should pay more attention to the breeding system rather than the natural fishing, according to the MFF.
