THE export value of agricultural produce in the first six months of the 2022-2023 Financial Year (FY) is estimated to be over US$1 billion, according to the Ministry of Commerce.
Between 1 April and 30 September 2022, Myanmar’s private sector exported agri-produce worth $1.7 billion. The figures reflected an increase of $15 million compared with that of the corresponding period last year, the Ministry of Commerce’s data indicated.
Myanmar targets to reach an external trade value of $29.5 billion with exports worth $15.5 billion and imports valued at $14 billion for the 2022-2023FY, according to the 2022-2023FY National Budget. Myanmar’s external trade topped over $16.079 billion in the six-month of 2021- 2022 mini-budget period, which increased from $15.971 billion recorded in the same period of the previous year. The trade figures showed an increase of $108.756 million in the mini-budget period.
Various pulses and rice are the main export items in the agricultural export group. Myanmar exports agricultural produce, livestock, fishery products, minerals, forest products, finished products and other goods. The export value in the H1 amounted to $8.5 billion, according to the Ministry of Commerce.
Myanmar has been implementing National Export Strategy (NES) 2020-2025 to boost exports and the priority sectors of the NES include agricultural production, garment and apparel, industrial and electronic device, fishery business, forest products, digital manufacturing and service, logistic service, quality management, trade information service, innovation and entrepreneurship sectors.
TWA/GNLM
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