Myanmar earns USD 18 Billion in mini-budget period

NAYPYITAW (Eleven Media Group/ANN) - Myanmar earned US$18.4 billion in the mini-budget period from April to September and it is more than US$2 billion compared to the amount last year in the same period, according to the Ministry of Commerce.

The ministry expected to earn US$13.7 billion in the same period but the actual trade amount exceeded the expected amount.

The export amount is at US$8.5 billion in the mini-budget period and it is more than US$1 billion compared to last year amount in the same period, it said.

The fishery industry export amount is over US$298 million in the period and it is more than US$7 million in comparison with last year amount in the same period.

The import amount is US$9.8 billion in the mini-budget period and it is more than US$700 million when compared with last year amount in the same period.

Myanmar mainly imports construction materials, petroleum products including fuel oil, machines and machinery, raw materials and fertilizers.

Trade volume amount was over US$16 billion: US$7.2 billion from export and US$9 billion from import, from April to September last year.

The total trade volume amount is US$33.323 billion and it is the maximum amount ever in our history. The export amount is US$14.675 billion and it is the biggest amount too, said Yan Naing Tun, Director General of Trading Department.

The ministry is emphasizing to reduce trade deficiency, to set strategies for national level export to become trade surplus, to ease rules and regulations, to support private sector, to encourage to export value-added products and to access market for entrepreneurs to grant tariff reducing systems such as Generalised scheme of preferences (GSP).

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