Myanmar agricultural exports increased by USD $ 500 million in the current 2019 – 2020 fiscal year when compared to the same period of previous year

Agricultural product exports of Myanmar this year has increased by $500 million compared to the same period last year, according to the Ministry of Investments and Foreign Economic Relations. 

The Ministry said, “Agricultural product exports are in the satisfactory condition generating more than $3.31 billion in the first ten months of the 2019-2020 fiscal year, representing a $500 million increase compared to the same period of 2019-2020 fiscal year.”

Agricultural products represent 22 percent of the total export and major agricultural exports are wholegrain rice, broken rice, bean, corn, fruits and vegetable, sesame, tea, and sugar. 

Myanmar exported the agricultural products mainly to China, Singapore, Malaysia, Philippines, Bangladesh, India, Indonesia, and Sri Lanka. 

Overall export has also increased by $2 billion reaching the total amount of $30 billion by the end of August. However, the volume of imports has also significantly increased seeing a $1.5 billion trade deficit, according to data from the Ministry of Investment and Foreign Economic Relation. 

(Myanmar Business Today: https://mmbiztoday.com/agri-product-exports-increased-by-500-million/ )

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