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Home >> Business
UPDATED: 08:02, June 04, 2007
Myanmar outlines top ten exporters, importers
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Myanmar has outlined top 10 exporters and top 10 importers in the fiscal year 2006-07 which ended in March with the state sector dominating the exports and the private sector leading in imports, local media reported Sunday.

The state sector generated 61 percent of the 5.01 billion U.S. dollars total from exports, while the private sector shared 64 percent of the 2.92 billion dollars total for imports during the year, the Myanmar Times, which was pre-published on Sunday, quoted the Customs Department as saying.

Of the top 10 exporters in 2006-07, the state-run Myanmar Oil and Gas Enterprise (MOGE) alone accounted for 2.16 billion dollars or 43 percent of the country's export earning mainly through sale of natural gas to Thailand, standing the first of the top 10, the report said.

Myanmar has rich natural gas resources and the exploitation of such gas is usually done with the cooperation of foreign companies under production sharing basis, experts said.

The second largest exporter went to the state-owned Myanmar Timber Enterprise (MTE) which exported 519 million dollars' worth of goods.

The third was represented by the state-operated Myanmar Gems Enterprise (MGE) which gained 296.9 million dollars from gem sale.

The fourth largest exporter was known as the Myanmar Ivanhoe Copper Co Ltd, a joint venture between the state-run Myanmar Mining Enterprise-1 and the Canadian Ivanhoe Mines which brought in 106.6 million dollars from its Monywa copper project.

The fifth was listed as the national private Htoo Trading Co Ltd with 65.1 million dollars involved in teak log exports.

The remaining five top 10 exporters were specified as Myawaddy Trading (64.3 million dollars), Cooperative Export Import

Enterprise (50.9 million dollars), Golden Peacock Co Ltd (33.5 million dollars), KB International Co Ltd (27.7 million dollars) and the joint venture Myanmar Airways International (24.6 million dollars).

Meanwhile, of the top 10 importers during the year, the Myanmar Petrochemical Enterprise ranked the first with 676.3 million dollars, the MOGE the second with 150.8 million dollars, followed by Myawaddy Trading (91.2 million dollars), Myanmar Railways (54 million dollars), Rothmans (40 million dollars), Electric Power Enterprise (36.9 million dollars), Cooperative Exports and Imports Enterprise (30.6 million dollars), Myanmar Posts and Telecommunications (27 million dollars), Department of Health (20. 9 million dollars) and the United State Embassy (20.7 million dollars) for importing goods related to the construction of its new compound in Yangon.

According to the report, Myanmar obtained 7.93 billion dollars in its foreign trade in 2006-07, up 43 percent over the previous year with surplus of 2.09 billion dollars, attributing to the government's "export first, import second" strategy.

Source: Xinhua

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