A worker arranges rice at a warehouse in Yangon, Myanmar (Photo: Xinhua) Hanoi (VNA) – Myanmar earned nearly 436 million USD from exporting rice and broken rice from April 1 to October26 this year, according to the Myanmar Rice Federation (MRF).
In the period, the Southeast Asian country shippedabroad more than 1 million tonnes of rice and nearly 251,230 tonnes of brokenrice.
About 53.4 percent of the twotypes of rice were exported through border gates while the rest via sea routes.The country raked in over 1.11 billion USD from export of 2.89 million tonnesof rice and 620,696 tonnes of broken rice in the fiscal year 2017-2018.
China is the leading rice export market of Myanmar, accountingabout 60 percent, while demand for the country's rice also comes from otherAsian countries, European Union members and some African countries.
Aside from rice, Myanmar also boosts exportsof other products, including peas, aquatic products, garment-textile, timberand wooden products, and rubber, a move to decrease the country’s tradedeficit.
The Asian Development Outlook 2018, published by the AsianDevelopment Bank (ADB), has updated Myanmar's estimated economic figures,saying that the country's growth rate of gross domestic product (GDP) is 6.6percent for 2018, and 7 percent for 2019.
Myanmar's inflation rate is 6.2 percent for 2018 and 6 percentfor 2019 respectively. Meanwhile, the current account balance deficit is 3 percentof GDP in 2018, and 4 percent in 2019. -VNA
