Myanmar’s maritime trade reaches about US$26bil in FY 2019-2020

October 16, 2020: Myanmar’s trade through sea route reached about US$26 billion in previous fiscal year (FY) 2019-2020 which ended on Sept 30, according to figures released by the Commerce Ministry on Wednesday (Oct 14).

From Oct 1,2019 to Sept 30 this year, the country earned over $10.4 billion from maritime export while its import shared over $15.5 billion.

The last fiscal year’s sea trade saw a slight increase by over $1.2 billion, compared to the same period of FY 2018-2019 when it registered over $24.8 billion, the ministry’s figures said.

About 80 per cent of Myanmar’s foreign trade is done through sea-borne trade and its border trade is being conducted with four neighbouring countries, China, Thailand, India and Bangladesh, respectively.

Myanmar mainly exports agricultural products, animal products, marine products, minerals, forest products, manufacturing goods and others while capital goods, intermediate goods and consumer goods are imported to the country.

Source: The Star