Mineral exports decrease 24% in Q1

Mineral exports between Myanmar and overseas trade partners were valued at US$296 million in fiscal year 2018-2019, down by $95 million or 24.4 per cent, as against the same period in the last 2017-2018 FY, the Ministry of Commerce reported.

For the same period during the last FY, mineral exports totalled $392.159 million, with $303 million by the private sector and $88.6 million in the public sector.

In the first quarter of this FY, the public sector’s exports of minerals amounted to $0.4 million, a decline of $88.28 million from the corresponding period last FY. Also during this period, private exporters sold over $296 million, which was a slight decrease in value by $7.4 million against last FY.

Other products which saw a decrease in export growth in the current FY included forest-based products and other miscellaneous products. When compared with this time last FY, the current export value of forest products declined by $6.9 million, whereas this year’s export of miscellaneous products dropped by nearly half.

According to data from the Commerce Ministry, the country earned $3.7 billion from the export of seven major groups of commodities, such as agricultural, mineral, marine, animal, and forest products, manufactured goods, and other miscellaneous items. During the corresponding period last FY, the country earned $3.56 billion from the export sector. Within the 2018 mini budget period between April and September, the country’s mineral exports were valued at $1.034 billion. As per the ministry’s yearly trade report, the value of mineral exports was pegged at $897 million in the 2011-2012FY, $399 million in the 2012-2013FY, $1.339 billion in the 2013-2014FY, $1.498 billion in the 2014-2015FY, $968 million in the 2015-2016FY, and $1.010 billion in the 2016-2017FY.

Source: Global New Light of Myanmar

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