Myanmar diesel imports rise as rice exports improve

Myanmar’s trade deficit has widened on the back of fluctuations in commodity prices, illegal trade and a weaker currency. In 2016-17, the trade deficit amounted to over US$5.5 billion, up from US$5.4 billion in 2015-16 and US$4.9 billion in 2014-15, according to the statistics released by the Central Statistical Organisation. Among the country’s imports is […]

Fixing the Myanmar economy

Major structural overhauls have to be carried out so the country can maximise its potential for growth. Myanmar’s economy is projected by the World Bank to grow by an average of 7 percent between 2017 and 2019. Last year, GDP rose by 6.5pc. That’s among the fastest growing economies in Asia, alongside the likes of […]

Can the central bank’s new guard save businesses in Myanmar?

Among the nominees for deputy governor are economist and retired Budget Department of the Ministry of Planning and Finance officer U Soe Thein, incumbent deputy governor U Soe Min and existing member of the board U Bo Bo Nge. Meanwhile, the newcomers to the Board include former deputy director general of the Union Attorney General’s […]

Contractors association bands together with YCDC grievances

Over 500 of Yangon’s licensed building contractors met last week to debate forming an industry association, which will have a long list of policy complaints to take to Yangon City Development Committee. The city’s contractors are banding together partly in anticipation of new YCDC regulations, and believe an industry association will make it easier for them […]

Trade volumes climb on import growth

Myanmar’s bilateral trade this financial year until end-July is worth over US$500 million more than over the same period last year, according to figures compiled by the Ministry of Commerce. Trade so far this financial year is worth a total of $8.951 billion, up from $8.437 billion in the first four months of the last […]

Myanmar trade deficit rises

YANGON – Myanmar’s quarterly trade deficit reached over US$1.4 billion (45.5 billion baht), as the economy continues to open up to foreign investment, the government said Wednesday. The value of exports — including oil, gas and timber — during April-June was more than $2.2 billion, but $3.6 billion was spent on imports, the Central Statistical […]

Myanmar Gas Exports Seen Rising on Ramping Up of New China Pipeline

Myanmar’s earnings from natural gas exports fell in the last fiscal year as more of the resource was consumed domestically but shipments of greater volumes to China as a new pipeline comes up to speed are expected to boost earnings this year. Myanmar earned $3.299 billion from the export of gas during the 2013-14 (April/March) […]