THE value of Myanmar’s mari­time trade between 1 April and 17 June in the current financial year 2022-2023 soared to US$5.38 billion, reflecting a sharp rise of $1.3 billion, according to the Ministry of Commerce.

Sea trade rose from $4.07 billion during the year-ago peri­od, according to the Ministry of Commerce.

While maritime exports were valued at $2.239 billion, im­ports were registered at $3.142 billion. Both exports and imports have risen as against the year-ago period.

Myanmar’s sea trade gener­ated $19.8 billion out of an overall trade value of $29.5 billion in the previous FY2020-2021, the Min­istry of Commerce’s statistics indicated.

Terminals in Yangon Port received over 250 cargo ships in the past five months (Jan-May), according to Myanma Port Au­thority.

The turnaround time at the Port was designated as approximately three days, under the guidance of the My­anma Port Authority and the cooperation of the ocean lin­ers, exporters and importers. Therefore, the arrival of the ships has increased.

Myanma Port Authorities and Yangon inner terminals are providing services to en­sure the fast and reliable cargo handling and withdrawal of the containers for trade flow to re­turn to normality.

Earlier, the larger ships have draft problems prevent­ing their sailing on the Yangon River. The draft extension is up to 10 meters with the new navigation channel accessing to inner Yangon River.

Myanmar exports ag­ricultural products, fishery products, minerals, livestock, forest products, finished indus­trial goods, and other products, while it imports capital goods, consumer goods, and raw in­dustrial materials.

KK/ GNLM

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