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Gas Sector Top Revenue Earner

Myanmar’s gas sector emerged as the top revenue earning export sector in the recently concluded financial year 2013-14, data from the Ministry of Commerce showed.

Revenue from exporting gas hit $3.2 billion in the last fiscal, according to the ministry.

Myanmar’s export sector is classified into six categories – farm products, marine products, industrial finished products (including exportation of natural gas), animal products, forest products and mineral products.

Export earnings from rice, beans and pulses, corn, rubber, castor oil, cashew nut, mango, water melon, onion, garlic, turmeric and ginger amounted to over $2 billion in the same period.

Oil and gas sector is also the biggest source of foreign direct investment into Myanmar, accounting for over 31 percent of the country’s total FDI with over $14 billion in injected capital as of March.

During 2013-14, Myanmar’s foreign trade totalled $24.87 billion, with exports taking up $11.1 billion and imports representing $13.76 billion.

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