Myanmar's mineral exports generate earnings of USD46.5M in Q2
Date
7/14/2024 4:56:00 AM
(MENAFN) Myanmar's mineral exports generated earnings of 46.5 million U.S. dollars during the first three months of the fiscal year 2024-25, which commenced in April, according to a report from the Ministry of Commerce released on Sunday. This estimate, covering the period from April 1 to June 28, shows a notable decline compared to the 71.5 million dollars recorded in the same timeframe the previous year. The decrease in revenue from mineral exports raises concerns about the performance of this sector amid broader economic challenges.
In the context of Myanmar's overall export landscape, the mineral sector ranked fourth in terms of export value, trailing behind the manufacturing, agriculture, and fishery sectors. Official data indicates that the total export value for the country during this three-month period reached over 3.5 billion dollars. This figure underscores the diverse nature of Myanmar's export economy, which is heavily reliant on a variety of sectors.
Myanmar primarily exports agricultural products, animal products, marine products, minerals, forest products, and manufacturing goods to its international trade partners. Despite the decline in mineral export earnings, the overall export framework remains robust, reflecting the country's varied economic activities. The reliance on multiple sectors for export revenue is crucial for Myanmar as it navigates economic fluctuations and seeks to bolster its foreign trade relationships.
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