The logistics sector in the country is under transformation, driven by the increasing trade activity, improving connectivity, and entry of major international players. Implementing regulations are expected by April 2017, meaning some delays with licensing may be experienced before that time. The International Trade Statistics Yearbook: Volume I – Trade by Country and Volume II – Trade by Product provide an overview of the latest trends of trade in goods and services showing country and product profiles of international trade, respectively. Foreign nationals are allowed to own property following the January 2016 passage of the Condominium Law, but only under strict conditions. Peter Beynon, Chairman, British Chamber of Commerce Myanmar: Interview, Country Profile, from The Report: Myanmar 2017, Le Luong Minh, ASEAN Secretary-General: Interview, Removal of most US economic sanctions against Myanmar unleashes economic potential, Cecilia Malmström, European Commissioner for Trade: Interview, Vivek Pathak, Director for East Asia and the Pacific, International Finance Corporation (IFC): Interview, New law to reform Myanmar's investment framework, U Thura Ko Ko, Managing Director, YGA Capital; and Local Representative, Texas Pacific Group: Interview. “The sheer variety of environment and potential that the country has in agriculture cannot be ignored, but to tap this, it must develop value-added processing to its portfolio.”. This can be partially attributed to the MIC’s move to approve 48 projects in March 2016 – the final month of the fiscal year and immediately before the NLD took power – compared to an average of 10 project approvals at any monthly meeting. To support these efforts, the two nations have built five border trade zones, including Mae Se in Kayah State, which was expected to be completed by the end of 2016. English Deutsch العربية português русский español हिंदी 日本語 français 中文 Request a demo Sign Up Log in. With the administration now moving to implement a host of domestic reforms, loosen internal trade restrictions and draft a new investment law, growth is expected to resume apace following a slowdown during the election year. SECTOR. Statistical YearBook 2020. see more detail in notice. Finance Statistics of Myanmar. Elsewhere, transport system upgrades are already having an effect on cross-border trade as Myanmar moves to expand bilateral ties with Thailand, China and, in the longer term, India. Foreign investment can take the form of 100% foreign-owned investment companies, joint ventures (JVs) and public-private JV contracts with the Myanmar government, which have been a popular model for infrastructure and real estate projects. However, it added that much of this is lost to smuggling and corruption (see Mining chapter). Prior to 2015, foreign firms were strictly prohibited from undertaking retail or wholesale activities under MoC regulations. First article from this chapter and report. The new commission will be chaired by U Kyaw Win, minister of planning and finance, while U Than Myint, minister of commerce, was named its vice-president. Bevölkerung zwischen 15 und 64 Jahren (% der Gesamtbevölkerung) Bevölkerung 65 Jahre öder älter (% der Gesamtbevölkerung) Bevölkerung, weiblich (% der Gesamtbevölkerung) Verhältnisses zwischen Erwerbstätigkeit und Gesamtbevölkerung. Although port congestion and undeveloped road networks continue to pose problems, plans to channel billions of dollars into new infrastructure are already paying off, bolstered by the development of new special economic zones (SEZs), which should ensure the country remains on an upwards trajectory in 2017. Trade Map is free to use and provides trade statistics and market access information for export development. In July 2016, for example, officials in attendance at the seventh Thailand-Myanmar Joint Trade Commission meeting announced that their governments had targeted boosting bilateral trade to between $10bn and $12bn in 2017. The MoC, which also oversees the Department of Trade, supports the national transformation into a market-oriented economy by encouraging private sector participation, expanding international trade and setting policy for foreign companies operating in the country. In recent years trade and investment in Myanmar have soared, buoyed by ongoing efforts to liberalise the economy and a successful political transition in November 2015 that saw the National League for Democracy (NLD) become the country’s first civilian-led government elected to power in modern history. Myanmar trade to gdp ratio for 2018 was 60.69%, a 1.76% decline from 2017. Uploaded by: Knoema. The MIL includes provisions to reduce the number of investment projects that must get a permit from the MIC by introducing an endorsement procedure for projects that are not considered strategic or capital-intensive or that do not have a significant impact on the environment or local community. Register now and also receive a complimentary 2-month licence to the OBG Research Terminal. Despite these positive developments, Myanmar’s trade imbalance continues to pose a problem to future growth. Content National Energy Policy Institutional Framework for Myanmar Energy Sector Legal Basic on energy statistics Government agencies collecting energy statistics Compiling Energy Statistics Source of Data Conclusion 2. The DICA reported that approved foreign investments rose from $329.58m in 2009/10 to just under $20bn in 2010/11, driven by $10.18bn in oil and gas investments. The statistic shows gross domestic product (GDP) in Myanmar, also known as Burma, from 2005 to 2019, with projections up until 2025. Table reflects only those months for which there was trade. In June 2016 the President’s Office announced it had re-formed the MIC, after dissolving the previous body in March 2016. Myanmar’s main manufactured product exports are natural gas and textiles. The trade relationship between India and South East Asian Nations have continued to improve and developing at moderately a fast pace during last decade. Unlike the FIL, however, the SEZ Law extends maximum foreign lease limits from 70 years (50 years with two 10-year extensions) to 75 years (50 years with one 25-year extension), according to international consultancy KPMG. Covid-19 and Myanmar: can the fledgling insurance sector adapt to the disruption? Main economic indicators, GDP by sector, trade in goods, trade in commercial services, foreign direct investment, imports and exports with the world, ranking, trade … Myanmar Living Conditions Survey (2017) Myanmar Micro, Small and Medium Enterprise Survey 2017 ; Household Income and Expenditure Survey (Nation-Wide Sample Survey in 2012) News. Between April 1 and August 31, 2016, the total value of approved FDI stood at $701m, according to the DICA, with the government targeting $8bn of FDI for 2016/17. By transforming the large volume of primary trade data into an accessible, user-friendly, web-based format, Trade Map provides indicators on export performance, international demand, alternative markets and the role of competitors. The EU exported goods worth … Myanmar’s potentials with regard to trade and investment is tremendously enormous in the areas of investment, trading, training and development, services and manufacturing sectors. They are now permitted to purchase up to 40% of a condominium apartment block, provided the units are on the sixth floor or above (see Real Estate chapter). Plans are also in the works to remove export bans on a list of items that could include Niger seed oil, mustard seed and oil, and sunflower products. According to the CSO, the real estate, hotel and tourism, and transport sectors were the most popular for domestic investment during 2014/15, comprising 38.81%, 16.77% and 13.4% of total annual investment, respectively. If you want to search by HS Code (2017 Version) please enter 2 (Chapter), 4 (Sub-chapter), 6 (Sub-heading) or 8 (Commodity Code) digits How to use NTP Myanmar Trade Repository Foreign investment procedures and regulations are largely encapsulated in three pieces of legislation: the Myanmar Investment Law (MIL) 2016, which replaced the 2012 Foreign Investment Law (FIL), the Myanmar Citizen Investment Law (2013) and the SEZ Law, which was promulgated in 2014. Our tools allow individuals and organizations to discover, visualize, model, and present their data and the world’s data to facilitate better decisions and better outcomes. The key EU imports from Myanmar are dominated by garment (74%) and agricultural products. The index measures the amount of human capital that a child born today can expect to attain by age 18, given the risks of poor health and poor education that prevail in the country where she lives. Singapore was the leading investor in 2014/15, accounting for 53.64% of total investments, followed by the UK 9% and Hong Kong with 7.8%. Within several days, the DICA will issue a temporary certificate of incorporation or registration and a trade permit after receiving complete documents and activities in terms of capital injection and administrative functions within three days. Merchandise Trade summary statistics data for Myanmar (MMR) including exports and imports, applied tariffs, top export and import by partner countries and top exported/imported product groups, along with development indicators from WDI such as GDP, GNI per capita, trade balance and trade as percentage of GDP for year 2017 With imports vastly outnumbering exports in 2016, landside costs for shipping lines rose and a number moved to introduce new fees aimed at addressing a build-up of empty containers, including Singapore-based MCC Transport and Japan’s Mitsui O.S.K. In June 2016 shipping and trade news site JOC.com reported that traffic jams at Yangon’s port facilities had left some vessels waiting up to 11 days to make call, following a challenging May 2016 when wait times reached as long as 16 days. The delays were caused by a spike in imports that kicked off in the beginning of April 2016, including large quantities of construction materials for multiple infrastructure projects. MINISTRY OF COMMERCE EXPORT/IMPORT TRADE SITUATION OF MYANMAR IN (1-10-2020) TO (29-1-2021) COMPARED TO THE SAME PERIOD OF 2018-2019 FISCAL YEAR (CSO ၊ CUSTOM NEGOTIATION LIST) USD In Mill: NO. Explore any of the chapters below to select an article. Explore other chapters from this report. Perhaps most significant, however, has been the US government’s move to bring an end to a host of sanctions, many of which have been in place since the 1980s. The move was welcomed by investors, who had been waiting 10 weeks for project approval, with the MIC reporting that 100 proposals, largely within the garment and fishery products manufacturing segments, had been submitted between April and June of 2016. Published by H. Plecher , Aug 12, 2020. Agriculture sector dominates the trade, particularly supply of beans & pulses to India ($809 million in 2016-17) and timber ($156 million). IMPORT/EXPORT BASE: Myanmar’s major exports, according to the CSO, are agricultural products, including rice, matpe beans, maize, green mung beans and sesame seeds. The trade deficit stood at $1.11bn in the first quarter of 2015 and fell to $945.7m in the same period of 2016, highlighting the impact rising exports are having on trade growth, and painting a brighter picture for long-term trade trends. Investment is also set to rise in the coming years, bolstered by the promulgation of the MIL, ongoing developments at the country’s three SEZs and surging infrastructure investment, which should reduce transport and logistics costs. According to the CSO, China is Myanmar’s largest trading partner, accounting for 37.3% of its export market in 2014/15, followed by Thailand (32.2%), Singapore (6.1%), India (6%) and Japan (4.4%). Statistics 21~23 November, 2017 Kuala Lumpur, Malaysia Workshop On Energy Statistics for ASEAN Countries. Data Products Insights Data Partners. Foreign investment caps in a JV with a local company or citizen range between 50% and 80% of total equity in a number of restricted sectors, including infrastructure, construction, residential and commercial real estate, and aviation. In addition to growing bilateral ties with the US, Myanmar is moving to expand regional trade agreements with its Asian neighbours, having already signed bilateral investment treaties with China, India, Israel, Japan, South Korea, Laos, the Philippines, Thailand and Vietnam, according to the UN Conference on Trade and Development. Myanmar The Human Capital Index (HCI) database provides data at the country level for each of the components of the Human Capital Index as well as for the overall index, disaggregated by gender. Products Myanmar compiles external trade statistics according to the ASEAN Harmonised Tariff Nomenclature. Domestic investment has since risen to 1207 projects worth a combined $7.9bn, dominated by $2.35bn in manufacturing, $1.65bn in transport and $694.84m in real estate. Although the country is working with the private sector to address the issue by forming a working group that includes port owners and terminal operators, development of new port facilities at the country’s three SEZs will likely offer the most viable long-term solution to congestion challenges (see Industry & Retail chapter). This chapter includes the following articles. Myanmar trade to gdp ratio for 2017 was 62.45%, a 1.43% increase from 2016. Coastal Trade Statistics of Myanmar. Trade volumes in Myanmar have soared over the past decade, with the European Commission (EC) reporting that total trade rose by 32.8%, 28.1% and 24.5% in 2010, 2011 and 2012, respectively, from €12.37bn to €19.72bn over that period. This liberalisation was extended to construction materials in August 2016. Besides, Myanmar is endeavouring dynamically for the development of its economy up to its fullest extent. Although Myanmar remains in trade deficit, its trade balance has been improving in recent months, and in August 2016 the MoC reported that in the first quarter of 2016 exports rose by $261.7m y-o-y to reach $2.48bn, while total international trade volumes increased to $5.9bn, a 6.5% gain, with imports growing by $95.2m to $3.42bn, for a trade deficit of $945.7m. The MoC plans to reduce the number of goods requiring an import licence from 570 to 303, announcing in July 2016 that it is working on a list of 267 goods that will have import licence requirements lifted. Find our research on the Bloomberg Terminal, Dow Jones Factiva, Eikon, S&P Capital IQ, LexisNexis and more. Manufactured products comprised the largest portion of exports from Myanmar in 2014/15, according to the CSO, with a total value of $6.23bn, followed by agricultural products ($2.92bn) and mineral products ($1.47bn). Global Witness, a non-government organisation that focuses on corruption and environmental concerns, reported in 2015 that the total value of jade mined in Myanmar could be as high as $31bn annually. Trade is the sum of exports and imports of goods and services measured as a share of gross domestic product. Exports surged in 2013 and 2014, rising by 22% and a whopping 115.7%, respectively, although they fell by 32.7% in 2015 to end the year at €11.4bn, which the World Bank attributed to agricultural supply shocks and declining commodity prices, driving total trade volumes down by 5.2% to €33.48bn. The border trade value of Myanmar has growing every year. Search. Although Myanmar remains in trade deficit, its trade balance has been improving in recent months. The DICA reported that total FDI stood at $64.4bn as of August 2016, led by $22.4bn in oil and gas, $19.68bn in power and $6.92bn of manufacturing investments. These restricted areas include: businesses using hazardous chemicals, or activities that may affect public health or cause environmental damage; and any activity which could significantly affect the national economy, social interest or security. As the US continues to ease sanctions and economic liberalisation progresses, the NLD has overseen rising trade volumes since coming to power. Total imports stood at $7.44bn during the first six months of the 2016/17 fiscal year. The trade basket is narrow and subject to wide fluctuations. Trade continued recording double-digit growth in 2013 and 2014, increasing by 18% and 51.8%, respectively, to reach a total value of €35.32bn in 2014. Export growth, while robust, has been more uneven, with the EC reporting that total annual exports increased by 14.8%, 23% and 7.5% in 2010, 2011 and 2012, respectively, to total €6.43bn in 2012. Accessed On: 20 January, 2021. Knoema, an Eldridge business, is the most comprehensive source of global decision-making data in the world. You can also purchase a website subscription giving you unlimited access to all of our Reports online for 12 months. Total trade between the two partners equalled €2.9 billion. World and regional statistics… Although low global oil and commodities prices will likely continue to pose challenges to new investment and export revenues, the country’s considerable untapped potential, supportive government policy and emphasis on export-oriented development should keep both trade and investment on a strong long-term growth path. Source: General Administration of Customs of the People's Republic of China. Books. Lines. Perhaps most significantly, the launch of a single market under the ASEAN Economic Community – expected in 2018 following a three-year grace period for Cambodia, Laos, Myanmar and Vietnam – could have a major impact on agricultural trade in Myanmar. Top trading partners. 2. FDI has continued on an upward trajectory despite the uncertainty that accompanied the election in late 2015, with approved investment hitting $9.48bn during FY 2015/16, its highest level since 2010. In July 2016 U Aung Naing Oo, who is also director-general of the DICA, told local daily Eleven that the government is also planning to release a new domestic and foreign investment policy, which is expected to intensify efforts to channel foreign direct investment (FDI) into labour-intensive industries. World Data Atlas. Of this, maritime trade accounted for the majority at $4.44bn, followed by $1.55bn in overland border trade. Approved investments moderated to $4.64bn in 2011/12 and fell to $1.42bn in 2012/13, although they have since regained momentum, rising to $4.1bn in 2013/14 and nearly doubling to $8.01bn in 2014/15. Explore other chapters from this report. Several new projects to upgrade and build new links to China and India by rail and road are also under way, which could bolster cross-border trade and help Myanmar to become a major ASEAN economic centre in the coming years, according to the Nikkei Asian Review, (see Transport chapter). The Harmonised System (HS) is a high-level international nomenclature owned by the World Customs Organisation … Select Dataset. *Combined figures for all trade in cultures and trade reported as live plants with the unit ‘flasks’, as a ‘culture’ is likely to refer to a sterile flask containing multiple seedlings. In Myanmar’s import market, China comprised a 30.2% share in 2014/15, followed by Singapore (24.9%), Japan (10.5%), Thailand (10.1%) and Malaysia (4.5%). The EU ranked as the fourth biggest trade partner of Myanmar (after China, Thailand and Singapore), accounting for 9% of the country’s total trade. Political reforms have brought significant economic benefits, as the US government moved to lift burdensome sanctions that had weighed on investor sentiment and trade growth. Disrupted by Covid-19, will South-east Asia's super apps join forces? 3. India and ASEAN are currently negotiating agreements on trade in services and investment. Another key change in the MIL is the removal of local employment rules, giving foreign companies more flexibility in their hiring practices. Find our research on the Bloomberg Terminal, Dow Jones Factiva, Eikon, S&P Capital IQ, LexisNexis and more. Oversight of trade and investment in Myanmar spans a broad range of government ministries and departments, but responsibility for policy is largely concentrated in the Ministry of National Planning and Economic Development, which manages the country’s primary investment promotion agency, the Directorate of Investment and Company Administration (DICA), and the Ministry of Commerce (MoC). Several developments will support this growth, including a host of trade liberalisation policies implemented domestically over the course of 2016. The regulations governing land leases remain largely unchanged under the MIL, though some alterations to the tax incentive scheme have been made. Coastel Trade Statistics of Myanmar. Its largest mineral export is jade, and the country is one of the world’s largest producers of high-quality, sought-after jadeite. At a July 2016 press conference U Yan Naing Tun, director-general of the MoC’s Department of Trade, announced that foreign trade rose by almost $400m year-on-year (y-o-y) to $6bn during the first three months of FY 2016/17. India's exports to Myanmar include sugar ($424 million in 2016-17 & $67 million in 2017-18), pharmaceuticals ($178 million in 2017-18), etc. The Myanmar freight and logistics market is estimated to be valued at more than USD 4 billion and is anticipated to grow at a CAGR of more than 7.5% during the forecast period. The new law also introduces strategic tax benefits that are better tailored for specific projects and sectors – a departure from the previous procedure of issuing blanket tax benefits for any MIC project. Border Trade Data. Note: Import and Export values for the month January and February 2020 are not available at source. January 2021. Area Classified By Type of Land (Net Area Sown) (2018-2019) 29674 Thousand Acres. Trade volumes in Myanmar have soared over the past decade, with the European Commission (EC) reporting that total trade rose by 32.8%, 28.1% and 24.5% in 2010, 2011 and 2012, respectively, from €12.37bn to €19.72bn over that period.
How Music Got Free, Codeine For Dogs, Best Reggae/dancehall Artist In Africa 2020, Frying Pan Recipes, Nfl Game Used Helmet, Benadryl Side Effects Long-term, Little Bow Resort Rentals, Tasty Non-stick Diamond Reinforced Cookware Set,