Myanmar sees over USD $ 1 billion increase in exports in the first four month of new fiscal year when compared to the year earlier period

With the government and private sector working to increase exports, Myanmar witnessed some $1.144 billion rise in export earnings in the first four month of the new fiscal year compared to the year-earlier period, according to Ministry of Commerce data.
Imports surged by $697 million during the same period, resulting in a $627 million trade deficit.
“Exports increase can help increase the country’s economic development. Therefore, we are addressing all the problems and challenges in doing trade and business by organizing monthly meetings,” Vice President U Myint Swe said at a monthly meeting with local business leaders at UMFCCI.
Exports are carried out by state-owned and private enterprises through maritime channels and border gates. The majority of exports are from the agricultural, animal-product, fishery-product, metals and industrial sectors. The biggest export sectors are agricultural products, metals and industrial products.
For the first four months of the new fiscal year, from October 1 to January 24, agricultural product exports generated $1.159 billion, compared to $1.033 billion during the year-earlier period.
Industrial product exports garnered $3.138 billion during the same period, compared to $2.432 billion a year earlier.
Metals exports increased to over $881 million, compared to $317 million a year earlier.

(Myanmar Business Today: https://mmbiztoday.com/myanmar-sees-over-1-billion-exports-increase/ )

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