Market & Trade Status in Myanmar

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Presentation transcript:

Market & Trade Status in Myanmar ESRI UMFCCI

Country Profile Myanmar situated in Southeast Asia and covers a total land area of 678,500 sq-km, one of largest mainland country of the region bordering with Bangladesh, India, The People’s Republic of China, Lao and Thailand.

Situated in the Southeast Asia Mainland Area 676,577 sq-km LOCATION & AREA Situated in the Southeast Asia Mainland Area 676,577 sq-km Seven states & Seven Divisions International Boundaries; Bangladesh, India, China, Laos, Thailand. Population Over 56 million with an annual growth rate of 1.84%. Race 135 (major 8 races) GDP Over US $ 22 billion Per Capital GDP Over US $ 400 3

Economic & Trade Sector Reforms Economic reforms practicing liberalization, decentralization, privatization measures. The dominant market and trade reforms are as follows; Opening of market and trade. Private sector’s participation on international trade. De-control of price. Abolishment of state procurement system. Establishment of border trade department. Resumption of UMFCCI in line with market oriented system.

Freer Domestic Market No government intervention. Free market mechanism. Mostly private sector handling. About 57.5 million population & good market potential. Huge local market.

Main Markets Yangon Mandalay Mawlamying Magawe Taungyi Monywa

Export Import Policy To export all exportable products and penetrate various foreign markets To effectively utilized human and natural resources and penetration of foreign market not only with traditional exports but also more value added commodities.

The Growth of Foreign Trade in Market Oriented Economy The export volume increased by more than 40 times The import volume by more than 12 times Trade value increased from about US 400 million dollars in 1988-89 to US 11.32 billion dollars in 2008-09 accounting more than 25 times

The Role of Foreign Trade Foreign trade sector performs the highest growth rate – Main Export Items natural gas, garments, beans and pulses, some horticultural crops etc… Main Import Items all essential items & capital goods

Myanmar's Export & Import Fiscal Year Export Import Balance (million US$) *2000- 01 1569 2291 -695 *2001- 02 2439 2632 -193 *2002- 03 3063 2300 763 *2003- 04 2357 2240 117 *2004- 05 2928 1973 955 2005- 06 3558 1984 1574 *2006- 07 5223 2295 *2007- 08 6413 3344 3069 2008-09 6784 4544 IMF, International Financial Statistics (1952, 1956, 1960, 1966); World Bank, World Data Series (1995) , base year = 1980, *Ministry of Commerce, Yangon, Myanmar (at official rate of exchange). Myanmar's Economic Development, 2006, MNPED.

CSO, Selected Monthly Economic Indicators, February: 2009. % of Export Items (2007-08) CSO, Selected Monthly Economic Indicators, February: 2009.

CSO, Selected Monthly Economic Indicators, February: 2009. Myanmar's Export CSO, Selected Monthly Economic Indicators, February: 2009.

CSO, Selected Monthly Economic Indicators, February: 2009. Myanmar's Import CSO, Selected Monthly Economic Indicators, February: 2009.

Myanmar Export Items & Value Value (Kyat Million) Gas 12995.6 Beans & Pulses 3419.4 Garment 1417.9 Teak 1030.3 Hard Wood 988.9 Fish & Fish Products 871.9 Fresh & dried prawns 440.0 Rice 704.3 Base Metal & Ores 128.9 Sesamum seed 160.7 Raw Rubber 110.0 CSO, Selected Monthly Economic Indicators, February: 2009.

Border Trade Value from about US 200 million dollars in early 1990s to US 1.36 billions dollars in 2008-09 Increased of more than 6 times

Myanmar's Trading Countries (export and import) The largest exports to: Thailand India, China and Singapore The main imports from: - Singapore - China, - Thailand, - and India

Practical Problems Economic sanction since 2003 Difficulties to find new market Difficult to respond to international demands Banking constraints.

Main Challenges 10% export tax reduce competitive power Lack of financial support for trade Inefficient banking system Over valued exchange rate Frequent policy changes Negative impact of eco sanctions Global financial problems

Agricultural products and resource based products Prospects for Trade Agricultural products and resource based products natural gas, the top export item beans and pulses, the main agricultural export crops (second largest exporter) maize, sesame, soybean, rubber; horticulture crops, a good potential for future Fishery products Mineral products

Prospects for Doing Business Strategic location - located between South Asia & Southeast Asia - between most populous countries (China & India) - Trade, Tourism, Transport, Market, etc… can be expanded.

Thank You