Exports prioritised to meet trade target
According to official figures from the Ministry of Commerce, trade volume reached US$23 billion until the end of January in this fiscal year. The ministry has set the target trade volume to be $31 billion, therefore the ministry will continue trying to achieve its target over the next two months, said U Khin Maung Lwin, deputy secretary from the Ministry of Commerce. “Many imports have declined [in terms of volume]. Cement import has also fallen. Natural gas export has also fallen by billions of tonnes. At present, we are trying to reach our target $31 billion,” he said. Natural gas is Myanmar’s main export and major source of export revenue. The sector has struggled amid decline in global oil prices. The official figures suggest that there was a total of trade worth more than $23 billion from the start of the fiscal year until February 10, slightly up from more than $22 billion in the same period last year.
