Posts in category: TRADING

Myanmar has been implementing the National Export Strategy (NES) 2020-2025 to bolster exports.

MYANMAR’s external trade amounted to over US$18 billion as of 3 November in the current financial year 2023-2024 beginning 1 April, according to the Ministry of Commerce.
Myanmar’s export was worth over $8.664 billion whereas the country’s import was valued at $9.7 billion between 1 April and 3 November.
Myanmar’s seaborne trade value crossed over $13.12 billion this FY, while border trade was valued at $5.32 billion.
The trade figure over the past seven months shrank from $20.5 billion recorded in the corresponding period last FY, indicating a sharp drop of over $2.078 billion.
Myanmar exports agricultural produce, animal products, minerals, forest products, and finished industrial goods, while it imports capital goods, intermediate goods, raw materials imported by the CMP enterprises and consumer goods.
Myanmar has been implementing the National Export Strategy (NES) 2020-2025 to bolster exports. The priority sectors of the NES comprise agricultural production, garment and apparel, industrial and electronic device, fishery business, forest product, digital manufacturing and service, logistic service, quality management, trade information service, innovation and entrepreneurship sectors. 

Source: The Global New Light of Myanmar

Myanmar carried out trade with foreign trade partners through maritime trade and border trade channels.
China, Thailand and Singapore are the leading trade partners with Myanmar in the first half months (April-September) of the current financial year 2023-2024, according to the Ministry of Commerce.
Myanmar’s foreign trade totalled US$16.077 billion in H1, with exports worth $7.623 billion and imports valued at $8.454 billion.
China stood as the main trade partner of Myanmar in H1, with the trade value reaching $4.503 billion, comprising exports worth $1.54 billion and imports worth $2.96 billion, followed by Thailand and Singapore respectively.
The value of trade between Myanmar and Thailand amounted to $3.068 billion, with exports worth $2.035 billion and imports worth $1.833 billion.
The trade value with Singapore hit $1.812 billion, with exports worth $72.356 million and imports worth $1.74 billion.
Myanmar carried out trade with foreign trade partners through maritime trade and border trade channels.

Source: The Global New Light of Myanmar

The trade volume reached US$16,551.306 million in the first six months of the 2023-2024 financial year. From 1 April to 6 October, Myanmar exported $8,712.336 million and imported $7,838.97 million. Imports exceeded exports by over $870 million, resulting in a trade deficit of $873.366 million.
Myanmar exports agricultural produce, livestock products, fishery products, minerals products, forest products, finished industrial products, and other items to foreign countries. Investment goods, commercial raw materials, consumer goods, CMP raw materials, etc. are primarily imported from foreign countries.
To boost Myanmar’s exports, the National Export Strategy (NES) 2020-2025 is currently in effect. The key priority sectors of the NES 2020-2025 include agriculture-based food production, textile and clothing, industrial and electrical, fisheries, forest products, digital products and services, logistics services, quality management, trade information services, innovation and entrepreneurship, among others.

Source: The Global New Light of Myanmar

MYANMAR’s external trade plunged to US$15.98 billion in the H1 (April-September) of the current Financial Year 2023-2024 from $16.98 billion recorded in the year-ago period, indicating a decrease of over $1 billion, the Ministry of Commerce’s statistics showed.
Myanmar’s export was worth $7.58 billion whereas the country’s import was valued at $8.4 billion between 1 April and 29 September of the current FY.
Myanmar’s seaborne trade value crossed over $11.246 billion this FY, while border trade was valued at $4.7 billion in the H1.
Myanmar exports agricultural produce, animal products, minerals, forest products, and finished industrial goods, while it imports capital goods, intermediate goods, raw materials imported by the CMP enterprises and consumer goods.
Myanmar has been implementing the National Export Strategy (NES) 2020-2025 to boost exports and the priority sectors of the NES include agricultural produce, garment and apparel, industrial and electronic devices, fishery businesses, forest products, digital manufacturing and service, logistic services, quality management, trade information service, innovation and entrepreneurship sectors. 

Source: The Global New Light of Myanmar

Myanmar conducted cross-border trade worth US$7.865 million with neighbouring Bangladesh via Sittway and Maungtaw posts over the past five months of the current financial year 2023-2024 beginning 1 April, the Ministry of Commerce’s statistics showed.
Export ($6.89 million) outperformed imports ($0.966 million) in Myanmar-Bangladesh border trade as of 8 September.
Trade via Maungtaw is valued at $5.287 million, while the value of trade via Sittway was estimated at $1.61 million over the past five months.
Myanmar carried out border trade worth $0.58 million with Bangladesh via Maungtaw between 1 and 10 September. The Maungtaw border is aimed to reach a trade target of $1.54 million for September. It achieved 37.73 per cent of the trade target in the first 10 days. Agricultural produce, fisheries and manufacturing goods are the main export items and no import is recorded.
The goods are supplied to the Maungtaw border through the Sittway-Buthidaung-Maungtaw and Sittway-Angumaw-Maungtaw routes. Mostly, goods flowed into the border via the Sittway-Angumaw-Maungtaw route. They are shipped to Bangladesh via the Kanyinchaung Economic Zone.
The Customs Department’s statistics indicated that Myanmar’s export to Bangladesh via the Sittway border was valued at $0.034 million between 2 and 8 September. Tamarind, jujube, fresh ginger and plum jam were sent to Bangladesh.
Although there is only 70 nautical miles distance between the two countries, the cargo vessels are operated depending on the weather conditions in monsoon season.

Source: The Global New Light of Myanmar

The Myawady border trade route has been recovered to travel normal traffic including trucks by the end of August due to the ungently repairing of concerned officials but the price of most imported foodstuffs is still rising in the Yangon market.
Daw Lay Ni, a housewife in Sangyoung township, told GNLM that the imported foodstuffs prices are rising again instead of coming back down in the final days of the September first week.
The price of locally produced coffee which was bought at K100 in the retail market before 2022 has risen to K300. The instant coffee sachet (18 grammes) made in Thailand was priced at K300 starting from the end of August from at K250 in the August third week.
Similarly, a Cereal sachet (30g) is also risen to K350 and the price of an instant Cereal sachet (20g) is increased from K500 to K600. A Cereal big package, a domestic product, including 20 small sachet (30g) is increased to K6,200 from K4,700 before the Thingyan Festival period.
Not only the price of foodstuffs in the imported items has been increased in the market for the reason of transportation issues but also the price of domestic foodstuffs has risen. Consumers said that transportation has returned to normal right now but the prices of foodstuffs and related items have not come down.

Source: The Global New Light of Myanmar

Due to the opening of the Kenglat border trade station between Myanmar and Laos with special funds from the Lancang-Mekong Cooperation, the economy between the two countries will further increase, and the friendship between the people will also improve, Union Minister for Commerce U Aung Naing Oo said during the opening ceremony of the trade station held on 26 August.

Before the opening ceremony, members of the ethnic perform traditional dances.
The trading post was implemented and built with the Lancang-Mekong Cooperation Special Fund 2021. The trade station, which was previously opened temporarily, has been upgraded to become a new one with the full characteristics of a big trading station.
The Union minister expressed his gratitude to the People’s Republic of China for providing support from the Lancang-Mekong Cooperation Special Fund for the construction of the camp buildings.
Due to the seperation of the Mekong River between the two countries, bilateral trade has not developed, but the Myanmar-Laos friendship bridge was built, and the natural barrier was overcome.
The Kenglat Trade Station was temporarily opened on 15 March 2015. The trade agreements between Myanmar and Laos were signed on 8 May 1995, and the bilateral border region management and cooperation agreement was signed in Myanmar-Lao-English languages on 27 March 1997 in Yangon by the foreign ministers of the two countries.
The construction of the Myanmar-Laos Friendship Bridge over the Mekong River began in February 2013, was completed on 25 April 2015, and opened on 9 May 2015.
After the opening ceremony of the trading post, the Union minister and the party visited the Myanmar-Laos Friendship Bridge over the Mekong River, visited the trading post in Meyan Ward of Tachilek, met employees, and discussed issues related to promoting exports and preventing illegal trade.

Source: The Global New Light of Myanmar

Myanmar’s Kampaiti border with the neighbouring country China amounted to US$55.29 million as of 11 August in the current financial year 2023-2024 beginning 1 April, comprising exports worth $47.139 million and imports worth $8.152 million. The figure increased from $39.75 million recorded in the corresponding period last FY 2022-2023.
The Kampaiti border aims to achieve a trade target of $3 million in August. About $1.088 million worth of trade was carried out at the Kampaiti border as of the second week of August, accounting for 36.27 per cent of the trade target.
Tissue-culture bananas were mainly exported and construction materials, intermediate goods, consumer goods, clothes and fruits were imported.
In the past two weeks of August, the Kampaiti border saw exports of 1,092 tonnes of tissue-culture bananas with an estimated value of $375,101. It imported 1,264 tonnes of compound fertilizer, 19 tonnes of hollow pipe, 14.6 tonnes of iron pipe, 24 tonnes of iron sheet in coil, 51 tonnes of artificial grass, 10.2 tonnes of apple and 7,400 tonnes of ceramic tile plain, apple, tangerine, clothes, construction materials and capital goods.
There is no freight forwarder service running in the Kampaiti border. Companies transport with their own trucks. There are no landslides or road blockages along the Kampaiti-Waingmaw-Myitkyina trade channel and trucks are regularly seen flowing in and out of the Kampaiti border post. 

Source: The Global New Light of Myanmar

IT should launch online trading for gold bar transactions just like the online trading of the foreign currency market, said Daw Than Than Swe, governor of the Central Bank of Myanmar during the meeting with the chairman and secretary of the Monitoring and Steering Committee on Gold and Currency Market and departmental officials yesterday.

She also mentioned the need to allow those who hold legal certificates for following the mechanisms of meeting the standard for gold, quality, weight and pricing to participate in online trading to ensure gold price stability.

She then instructed the supervisors to inspect whether the price manipulators make price instability at gold shops, and whether the shops have relevant work licences and other certificates including the legal trading price and payment methods.

The CBM launched online trading programmes in the international currency market on 22 June. It sold US$6.89 million at K2,920/2,922 per dollar to six banks on that day and also announced that the online sale prices were illegal.

Moreover, the CBM reviewed the lists of buyers and sellers of foreign currency submitted by AD-licensed banks and sale listings between the banks and customers and also negotiated with the banks regarding the exchange rate and amounts.

Then, the attendees reported on the proper situation concerning the online trading of CBM for real estate agents and car brokers in addition to the foreign currency and gold market to make official transactions by laying down rules and regulations and the plans to inspect as per the Anti-Corruption Law.

Source: The Global New Light of Myanmar

With only over two weeks remaining to export Myanmar’s corn to Thailand under Form D customs tariff benefit, the corn market falters, traders explained.
Thailand gives the go-ahead to corn imports under zero tariff (with Form-D), between 1 February and 31 August. However, Thailand imposed a maximum tax rate of 73 per cent on corn imports to protect the rights of their growers if the corn is imported during the corn season of Thailand. There are only 20 days remaining to enjoy that customs benefit.
Additionally, torrential rain on 7 August destroyed some road sections to Myawady, a major border point between Myanmar and Thailand. Therefore, landslides blocked the corn’s trade route and repair works are being undertaken. As a result of this, the market is slowing down.
The prevailing prices of corn stand at K1,200-1,220 per viss in the domestic market while the FOB corn prices were US$290-310 per tonne, according to Yangon Region Chambers of Commerce and Industry (Bayintnaung Commodity Depot).
Myanmar conveys corn to China and Thailand through the border and also sends corn to China, India, Vietnam and the Philippines by maritime shipping presently, according to the Myanmar Corn Industrial Association.
China is purchasing Myanmar’s corn through cross-border trade under the opium substitution programme. Legitimate corn trade between Myanmar and China commenced at the end of 2022. A total of 112 companies have been given the go-ahead for corn exports.
Myanmar exported more than two million tonnes of corn to foreign trade in 2022 corn season. The majority of them were sent to Thailand and the remaining went to China, India, the Philippines and VietNam.
More than two million tonnes of corn are expected to be shipped to foreign trade partners in the 2023 corn season, said U Min Khaing, patron of the Myanmar Corn Industrial Association.
At present, corn is cultivated in Shan, Kachin, Kayah and Kayin states and Mandalay, Sagaing and Magway regions. Myanmar has three corn seasons — winter, summer and monsoon. The country produces 2.5-3 million tonnes of corn every year. 

Source: The Global New Light of Myanmar