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Myanmar Fish Exports Hit

Economics Politics +2 more

Myanmar Fish Exports HitMYANMAR - Myanmar's fish and marine product exports reached $353 million the the first three quarters of 2008-09, a drop of $30 million from 2007-08.

The Fishery Department report of 15 December said the fall was the result of the impact of the global financial crisis.

The department said that orders from overseas were down by 50 per cent on the normal market, while domestic sales fell by 40 per cent.

Together with a drop in export trade, domestic fish prices also fell.

Myanmar's major fishery product exports are fish, prawn and crab and in 2007-08, the country exported 352,652 tonnes of marine products, valued at $561 million, according to official statistics.

The main export countries for Myanmar are China followed by Thailand, Japan and Singapore and the fishery sector remains the country's fourth largest contributor to the gross domestic product and also the fourth largest source of foreign exchange earning during the past five years.