Myanmar earns US$160 million more from CMP export

Myanmar earns US$160 million more from CMP export
A port in Yangon (Photo-Kyi Naing)
A port in Yangon (Photo-Kyi Naing)
Published 19 November 2018
EMG

Myanmar earned US$160 million more from CMP export sector during more than a month period of this fiscal year, according to Ministry of Commerce.

It earned US$1.274 billion from October 1 to November 2 in 2018-19 FY and received US$1.114 billion in the same period last year.

Main export products from Myanmar are farming products, animal products, fishery products, forestry products, mining products, CMP and other materials.

The garment industry is mainly included in CMP sector and other products included are shoes and bags.

Myanmar earned US$213 million from farming products export and received US$25 million more compared with the same period last year.

In animal products export, it earned US$41 million and received US$37 million more compared to the same period last year.

Myanmar earned US$82 million from forestry products export and received US$14 million more compared to the same period last year.

However, the export of mining products is decreasing as they are finite natural resources and restricted by the state.

Myanmar earned about US$3 billion from foreign trade within over one month of 2018-19 FY and it earned US$280 million more in compared with the same period last year. However trade deficiency is around US$370 million, according to the ministry.

Myanmar received US$2.917 billion from foreign trade from October 1 to November 2.