Jul 31, 2014

Myanmar earns US$ 1.3 billion in jade exports

Myanmar has earned US$1.3 billion from the export of jade stone over the last three years, according to the ministry of national planning and economic development.

Export earnings in the 2011-2012 fiscal year was US$ 34.2 million, US$ 297.9 million in 2012-2013 and US$ 1 billion in 2013-2014. The last fiscal year showed a significant increase in revenue.

Myanmar exports its jade mainly to China, Hong Kong and India. And gem merchants from Japan are also very interested in the valuable green stone mostly mined in northern Kachin State.

Hundreds of jade lots went on sale through a competitive bidding system at the 51st Myanma Gem Emporium in Nay Pyi Taw.
There is still a thriving illegal trade in jades and gems, many which a sourced from conflict areas where rule of law and controls are scarce, despite increasing attempts to stamp down in smuggling.

Myanmar export earnings from mineral products have reached US$ 71 million (US$ 2.9 million from the government and US$ 68.7 million from the private sector) according to the ministry of commerce.

Total investments in the mining sector by local entrepreneurs have reached Ks 13 billion up until June 30 this year.

Source: Eleven Weekly Media

 
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