Myanmar is earned over US$1.2 billion from maritime trade within over two weeks of this fiscal year and it is less than US$170 million in the same period of last fiscal year, according to figures announced by Ministry of Commerce.
Myanmar earned US$1.391 billion from maritime trade from October 1 to 18 in last fiscal year.
Although Myanmar was expected to earn US$31 billion in 2018-19 FY, it earned over US$34.97 billion from foreign trade. However trade deficiency was over US$1.39 billion.
Myanmar exported US$16.919 billion worth of products from October 1 to September 30 in 2018-19 FY and imported US$18.059 billion worth of products in the same period.
Myanmar is using maritime and border routes to trade with foreign countries.
It is exporting farming products, animal products, fishery products, forestry products, mining products, CMP (cut-make-pack) finished products and other products.
Myanmar is importing machinery, raw materials used in factories, consumer products and CMP raw materials mainly.
The ministry is implementing national level export strategies to reduce trade deficiency and to have trade surplus, to reduce rules and regulations, to provide assistance for private sector and to export more value-added products.
