Aug 18, 2011

Report on fishing industry in Myanmar

In the first four months (April to July) of the fiscal year 2011-12, the country's marine export earning amounted to 150.78 million U.S. dollars, decreasing by 16 percent from 180.18 million U.S. dollars in the same period of 2010-11, according to official statistics.

The figures for 2010-11 was 555.5 million U.S. dollars, increasing by 12 percent from 496.39 million U.S. dollars in 2009- 10. However, the exporting target of 700 million U.S. dollars was not met.

In 2010, Myanmar exported 11 million U.S. dollars worth of marine products to European Union countries. There are eight marine products processing factories which mainly export its products to European countries.

Since private entrepreneurs were granted to engage in onshore and offshore fishing, there have now been 81,000 hectares of fish ponds, up from 2,550 hectares in 1988.

With a long coastline of over 2,800 km and a total area of 500, 000 hectares of swamps along the coast, the country has an estimated sustainable yield of marine products at over one million tons a year.

Source: Xinhua