HomeMMBIZ NewsMaritime Trade Plummets, But Border Trade Picks Up

Maritime Trade Plummets, But Border Trade Picks Up

Myanmar’s maritime exports have decreased by almost $1 billion in the past year, moving from $8 billion down to just over $7 billion, according to statistics from the Ministry of Commerce.

In response to this data, Dr Maung Aung, a director at the ministry, said, “Maritime trade has declined because border trade has increased, and exports from Myanmar mainly go to China. Now, the Muse transport system is smooth and has become the primary route. That is why there are less maritime trade.”

In contrast, trade by land has risen by $1.5 billion more than last year. A new trade centre was opened at the Mae Sai border in Kayah state, in addition to the 15 border trade stations already in place.

The projected total trade value for 2014-15 was $25 billion, but the trade actually surpassed $28 billion. The primary exports from Myanmar are oil and gas, agricultural and animal products, fish and seafood, mineral resources, wood and industrial goods and the primary imports are consumer goods and raw materials for investment.

- Advertisment -spot_img

Must Read

rice myanmar paddy bag sale

Siri Lanka to import 20,000 metric tons of rice from Myanmar

Sri Lanka will import 20,000 metric tons of rice from Myanmar at the rate of $460 per ton through its state-run trading firm. Moreover,...