Myanmar has earned US$420 million from export of jade over the past seven months in the current fiscal year exceeding over US$160 million compared to the same period of last fiscal year, said Khin Maung Lwin, spokesperson and assistant permanent secretary of the Ministry of Commerce.

US$420 million was earned from export of jade from October 1 last year to April 24 this year in the current 2019-2020 FY. 

“This year we have earned US$420 million from jade exports. US$162 million more was earned compared to last year, he said. 

The earnings came from jade expos. More jade could be exported when more expos were held. When there were few jade emporiums, the export declined. 

“It depends on jade emporiums. The more jade expos there are, the more exports of jade,” the spokesperson commented. 

At Mid-year Gems Emporium 2019,15 percent special commodity tax was levied on uncut jade pieces, and 10 percent tax on ruby, sapphire and other precious stones except diamond and emerald, according to the Ministry of Natural Resources and Environmental Conservation.