Myanmar earned over USD $ 3 billion by exporting gas to Thailand and China between October 2018 and August 2019

Myanmar has earned over $3 billion by exporting gas to Thailand and China between October 2018 and August 2019, which represents the first ten months of 2019 Fiscal Year, according to the Ministry of Commerce.

“This year’s total revenue exceeds that of the same period last Fiscal Year by $100 million despite the lower quantity exported. This increase in revenue is due to the higher price of gas,” said U Khin Maung Lwin, Deputy Permanent Secretary of the Ministry of Commerce.

Myanmar earned over $1.5 billion from exporting gas to China, and another $1.6 billion from gas exports to Thailand. This total is $113 billion higher than the previous fiscal year.

Looking at the larger picture, Myanmar made $8.2 billion from the export of finished industrial products, which includes gas, according to data on the first ten months of the fiscal year from the Ministry of Commerce.

Myanmar has four offshore gas production installations, and has produced over 630,000 million cubic feet during 2019 Fiscal Year.

Myanmar has also made $29.43 billion of foreign trade, most of which was with China. That leaves Myanmar with a $1.21 billion trade deficit even though its export was $797 million higher than the previous fiscal year and its import were $901 million lower.

(Myanmar Business Today: https://www.mmbiztoday.com/articles/myanmar-earns-over-3-billion-exporting-gas-thailand-and-china )

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