June 6, 2007
Earnings from gas sale to Thailand double in 2006
Myanmar's earnings from its natural gas sales to neighboring Thailand
doubled to $2.16 billion in fiscal 2006 ending March 31, 2007 from the
year before, boosting the military-ruled country's exports to over
$5billion, the local weekly newspaper reported in its latest issue
released on June 5.
The strong growth is in mainly due to high gas prices rather than an
increase in the amount of gas exported, the Myanmar Times Weekly reported,
quoting the state-run exporter, Myanmar Oil and Gas Enterprise. MOGE
earned $1.08 billion from gas sales to Thailand in fiscal 2005.
The earnings from natural gas export represent 43 percent of the country's
total exports worth $5.01 billion in fiscal 2006, the paper reported
quoting Customs figures. Myanmar foreign trade for the fiscal year under
review surged 43 percent to a record $7.93 billion, producing a trade
surplus of $2.09 billion, the paper said.
The country's ruling junta has been using "export first, import later"
system in its foreign trading, which limits payment of imports to money
first earned through sales abroad, the paper added. Kyodo