Myanmar fishery exports soar

Asian Economic News, Feb 14, 2005

YANGON, Feb. 8 Kyodo

Myanmar's fishery export earnings have soared nearly 500 percent to $333.55 million in the past decade, making the fishery sector a ''considerably important segment'' in the country's economy, weekly news journal Flower News reported Tuesday.

Myanmar exported 205,463 tons of fishery products in the fiscal year ending March 31, 2004, up from just 23,215 tons in the fiscal year ending in March 1994, the paper said, quoting Livestock and Fishery Minister Brig. Gen. Maung Maung Thein.

Fishery export earnings a decade ago were only $68 million.

Speaking at the annual fisheries federation meeting, the general called for more efforts to boost fishery exports, saying the current export figure represents only 11 percent of total fishery production in the country.

''The current situation suggests there is still room for us to increase exports up to 30 percent of total production,'' Maung Maung Thein added.

Myanmar produces more than a million tons of fish and prawns annually and exports fishery products to more than 40 countries, including Japan.

The livestock and fishery sector represents about 8 percent of Myanmar's gross domestic product, and is the third largest contributor -- after agriculture and industry -- to gross domestic product, according to official figures.