Myanmar’s fiscal year ended on September 30th and some sectors have performed better than others. When it comes to trade, fishery exports is one of them.
The Ministry of Commerce said that export earnings from the fisheries sector during the period between October 1st and September 25th reached USD 847.5 million, an increase of USD 125.65 million – or over 17% – from the year-ago period. The number is a record-high despite the last few months during which the COVID-19 pandemic and border trade issues have slowed down the exports. 5 years ago, during FY 2014-15, fishery exports stood at USD 480 million.
The Myanmar Fisheries Federation (MFF) said the target for the 2019-2020 fiscal year was USD 800 million, and that the target was beaten. The Federation says it is making concerted efforts to develop fish farming lakes which meet international standards and adopting advanced fishing techniques, while pushing for G2G agreements.