Myanmar sees reduced trade for first quarter of 2020-21

Myanmar recorded US$8.9 billion in total trade in the first quarter of fiscal 2020-21, $2.5 billion less than the same period of last year. The fall was attributed to reduced exports of natural gas, gems, garment products, and fishery, and other animal products due to the COVID-19 outbreak. Imports also saw a decline with the […]

1 mln tonnes of corn expected to export to Thailand this year

Myanmar intends to reach the export target of one million tonnes of corn to Thailand this year, said U Min Khaing, chair of the Myanmar Corn Industrial Association. Myanmar will be allowed for corn export between February and August, under zero tariff, as Thailand has corn requirements. “Thailand needs 2 million tonnes of corn as […]

Application of import/export permits more secure with Trade Net 2.0

The application of export and import permits online via Myanmar Trade Net 2.0 is secure and can help curb corruption, said the director-general at the Ministry of Commerce. All export and import permits issued by the Ministry of Commerce can be applied online and security systems are in place to protect the user and applicants, […]

Myanmar sees trade deficit of over $230m in three months

There has been a trade deficit of over US$230 million over the past three months in the current fiscal year exceeding over US$14 million compared to the same period of the previous year, according to the Ministry of Commerce. From October 1 to January 1 in the 2020-2021 financial year, Myanmar exported goods worth US$3.685 […]

Local car prices turn volatile as online market for govt car import permits emerges

Prices for semi-knocked down (SKD) cars assembled in Myanmar have declined during COVID-19. While this was due to a drop in demand due to travel restrictions and the suspension of initial vehicle registrations to avoid physical crowds at the Road Transport Administration Department’s offices, one other reason why sales have stalled is the issuance of […]

CMP garment exports drop by $176 mln in first month of 2020-2021FY

Myanmar’s garment export sector, which constitutes over 20 percent of overall export value, showed a steep drop of US$176 million in October of the current financial year, according to the data released by the Ministry of Commerce. In October of FY2020-2021, the country exported $203.95 million worth of garments to foreign countries. The figure plunged […]

China to implement two of three border trade zones

China will construct just two out of the three trade zones slated for development at the Muse-Ruili (Kyeagaung) designated areas. Under the initial Muse-Ruili (Kyegaung) project agreement, the two governments had agreed to designate the area as a Core Zone for trade between China and Myanmar while the Kyu Kote –Pang Sang –Watain – Kyin […]

CMP raw materials import plunges to $264.7 mln as of 20 November

Imports of raw materials by CMP businesses touched a low of US$264.7 million as of 20 November in the current financial year 2020-2021, which fell from $332 million registered in the previous 2019-2020FY, according to the Ministry of Commerce. The figures reflected a decrease of $67 million, the Commerce Ministry’s data showed. At present, some […]

Freight rates spike to triple due to container shortage

Pandemic-induced container shortage pushed up the freight rates to almost triple in Myanmar, businesspersons in the logistic industry shared their opinions. The container shortage has become the biggest disrupter in shipping amid the coronavirus impacts, on the back of robust demand on the Asia-Europe and transpacific trade. Container shipping costs are drastically surging. The shipping […]

Myanmar launches e-commerce innovation challenge under COVID-19 plan

Since the first COVID-19 case was reported in March, Myanmar has witnessed a surge in digitalisation as both businesses and consumers moved online to adapt to the containment measures.For instance, NearMe, a Myanmar-based digital services platform, on November 12 announced a tie-up with Ninja Van Myanmar, enabling the logistics provider’s partners to accept digitalpayments from […]