Myanmar earns US$69.425 million from export of marine products in April, May 2023

July 3

Export of marine products earned US$69.425 million through maritime and border trade routes in April and May this financial year, according to the Ministry of Commerce.

Businesspersons send freshwater and seawater fish as well as farming fish to foreign markets. In this regard, export of fish and shrimp and other marine products are separately categorized in farming tasks. During the two-month period, export of fish pocketed more than $11 million, shrimp $1.68 million and other marine products $16.24 million.

In the total amount of exporting the fishery products, export of marine products through shipping secured $46.423 million whereas border trade process earned $23.002 million in sending the fishery products to foreign markets. Such products flowed out to neighbouring countries Thailand and China through Muse, Myawady, Kawthoung, Myeik and Mawtaung borders, Bangladesh through Maungtaw border and Laos through Kenglek border. Myanmar’s maritime products are regularly sent to China, Thailand and other neighbouring countries in addition to Japan and European countries.

A total of 480,000 fish farms are being operated to breed fish and shrimp across the nation. In addition, more than 120 cold storage facilities are being run for processing of marine products. Myanmar exports more than 20 species of fish including hilsa, giant sea perch, rohu, barbus and river catfish to foreign markets.

Marine products of Myanmar flow out to foreign countries through normal trade and border trade facilities. Currently, the export volume of marine products in Myanmar cannot regain the status before the Covid-19 period yet.

Myanmar earned $765.945 million from export of marine products abroad from 1 April 2022 to 31 March 2023 in the 2022-23 financial year, declining $19.076 million less than that of 2020-21 FY.

Myanmar set the hatchling season from April to June and the fishery season from July in the Myanmar Sea in the 2023-24 financial year.

Myanmar fishing entrepreneurs and fishermen operate the fishery business at relevant plots in the sea along coasts of Rakhine State, Ayeyawady and Yangon regions, Mon State and Taninthayi Region.—TWA/TTA