Myanmar’s export to European countries up to 47 percent in 2018 when compared the same period of last year which is marked highest point since 2008

Myanmar’s export to European countries in 2018 hit €2.2 billion, an increase of 47 percent or €734 million over the previous year, and marking its highest point since 2008, according the European Union.

Myanmar exported textiles, crops, footwear, hats, pearls and precious stones to the EU. In return, the EU and exported machineries worth €592 million to Myanmar.

Myanmar exported over half of all their finished textiles to the EU, and expects to increase that to 60 percent in 2019.

Despite the EU’s decision to restart tariffs on Myanmar rice imports by revoking GSP benefits it granted for Myanmar, Myanmar has exported $1.5 billion of agricultural products to its overseas buyers between October 1, 2018, and March 15, 2019, an increase of $100 million compared to previous period last year.

Myanmar exported manufacturing products worth $3.03 billion to international trade partners in FY 2018 ending on March 31, 2018, and $4.16 billion in 2018-2019 Fiscal Year.

For all products exported so far this fiscal year as of March 15, Myanmar’s exports reached approximately $5.28 billion. Of that number, $2.96 billion went through sea routes, and $2.31 billion through border gates.

(Myanmar Business Today: https://www.mmbiztoday.com/articles/myanmar-s-export-europe-jumps-47-percent )

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