covering burma and southeast asia

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Sunday, April 19, 2015
Burma

Natural Resources Now Burma’s Top Exports


By Htet Aung
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Monday, June 4, 2007
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Once o­ne of Southeast Asia’s top rice exporters, Burma now relies most heavily o­n trade in natural resources, according to a list of Burma’s top 10 exporters published o­n Sunday in a local newspaper.

In the fiscal year 2006-07, oil and natural gas, teak, gems and copper topped Burma’s export products and comprised the majority of Burma’s total export revenue of US $5.01 billion, according Customs Department statistics reported in The Myanmar Times, a Rangoon-based weekly newspaper.

According to the report, Burma’s top three exporters for the current fiscal year are the Myanmar Oil and Gas Enterprise, the Myanmar Timber Enterprise, and the Myanmar Gems Enterprise—all government-owned organizations.

Observers in Rangoon say Burma’s exports have been dominated by state-owned companies working jointly with foreign companies such as Thailand’s PTTEP, the French company Total Oil, Daewoo International in South Korea and the Gas Authority of India Ltd.

Revenue from gas and oil exports alone accounted for $2.16 billion of Burma’s total export earnings over the last year.

The second-highest revenues came from teak exports. In addition to the Myanmar Timber Enterprise, the privately-owned Htoo Trading Company earned $65.1 million from teak exports, making it fifth among the top ten exporters. The company is owned by the controversial tycoon Tay Za, who enjoys a close relationship to junta chief Snr-Gen Than Shwe.

The report also included statistics o­n Burma’s top importers. At number ten o­n the list is the US embassy in Rangoon, which imported some $20.9 million in materials for the construction of its new embassy compound.

Critics of Burma’s military government say the junta has increased its control of state finances and are earning more hard currency than ever before following the discovery of lucrative offshore gas deposits, increased logging and mining.


Warning: date() [function.date]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in /home/www2irrawaddy/public_html/2011_include/inc_art_left.php on line 366

Warning: date() [function.date]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in /home/www2irrawaddy/public_html/2011_include/inc_art_left.php on line 366

Warning: date() [function.date]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in /home/www2irrawaddy/public_html/2011_include/inc_art_left.php on line 366

Warning: mktime() [function.mktime]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in /home/www2irrawaddy/public_html/2011_include/inc_art_left.php on line 366

Warning: date() [function.date]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in /home/www2irrawaddy/public_html/2011_include/inc_art_left.php on line 367

Warning: date() [function.date]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in /home/www2irrawaddy/public_html/2011_include/inc_art_left.php on line 368

Warning: date() [function.date]: It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in /home/www2irrawaddy/public_html/2011_include/inc_art_left.php on line 369
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