Natural gas core of export activity,followed by garment sector

Natural gas comprises 45 per cent of the export sector, by far the biggest chunk of the market, it is learnt from an announcement released by the Customs Department.The second most exported category is the garment sector, at 17 per cent.

The export of natural gas in the 2015-2016 fiscal year fetched over US$4.3billion, whereas exports from the garment sector amounted to over US$1.6billion. The export of various peas and pulses totaled over US$1 billion, constituting 11 per cent of exports.

The export of agricultural products as of 14th October in this fiscal year 2016-2017 fetched US$ 1,448.655 million, while the export value of animal products was US$3.646 million. In the similar period, the values of export are US$ 250.03 million from marine products, US$ 481.782 million from minerals, US$120.011million from forest products, US$2851.812million from manufacturing goods and US$919.232 million from other goods, for a total of US$6,075.168million, it is learnt from the Ministry of Commerce.

The Myanmar garment sector cannot enjoy the Generalized System of Preferences (GSP) from America, but the volume of demand from Japan and European Union is on the rise. Therefore, the garment sector is expected to earn US$2.1billion this year, it is learnt.

Source: Global New Light of Myanmar

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