Mar 19, 2015

Jade Exports Garner Over $1b

The Ministry of Commerce announced that Myanmar exported over $1 billion worth of jade as of February in 2014-15 financial year which started in April last year.

However, the total amount is $168 million lower compared to the same period in last fiscal year, which racked up exports of $1.17 billion.

This is because of a drop in the amount of jade exported and the plunging exchange rate between the US dollar and the local currency Kyat.

In 2014-15, $271.3 million worth of jade was exported by sea and $732.26 million by land. In the previous fiscal, $618.59 million worth of jade were exported by sea and $764.54 million by land, according to official statistics from the Ministry of Commerce.

Source: Myanmar Business Today