Myanmar’s jade export earnings surge

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myanmars-jadeExport earnings for jade during Myanmar’s nine-month financial period from April to December 2013 reached $920 million, according to the Ministry of National Planning and Economic Development. This amount is more than a third larger than last year’s overall earnings (more than $600 million). Export earnings for the previous 2012-2013 fiscal year reached $297 million.

Myanmar can export jade in July but not in April, May or June. The export earnings reached more than $336 million in September, the top export earnings month for the year.

Myanmar exports its jade mostly to China, Hong Kong and India. Exhibitions of Myanmar jade ware tend to draw much attention from those countries, but Japan is the top buyer. Myanmar’s annual jade production is more than 10,000 tonnes. The highest production month is May.

An amendment to tax special goods under the Union Taxation Law was discussed at the Union Parliament session on March 10, 2014. According to the new law, a 30 per cent tax will be levied on jade, ruby, sapphire, emerald, diamond and other uncut stones.

There has been both legal and illegal export of jade. Actions are being taken against those who illegally export jade through border trade channels so as not to lose the country’s taxes, says an official from the mobile team.

 

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Reading Time: 1 minute

Export earnings for jade during Myanmar’s nine-month financial period from April to December 2013 reached $920 million, according to the Ministry of National Planning and Economic Development. This amount is more than a third larger than last year’s overall earnings (more than $600 million). Export earnings for the previous 2012-2013 fiscal year reached $297 million.

Reading Time: 1 minute

myanmars-jadeExport earnings for jade during Myanmar’s nine-month financial period from April to December 2013 reached $920 million, according to the Ministry of National Planning and Economic Development. This amount is more than a third larger than last year’s overall earnings (more than $600 million). Export earnings for the previous 2012-2013 fiscal year reached $297 million.

Myanmar can export jade in July but not in April, May or June. The export earnings reached more than $336 million in September, the top export earnings month for the year.

Myanmar exports its jade mostly to China, Hong Kong and India. Exhibitions of Myanmar jade ware tend to draw much attention from those countries, but Japan is the top buyer. Myanmar’s annual jade production is more than 10,000 tonnes. The highest production month is May.

An amendment to tax special goods under the Union Taxation Law was discussed at the Union Parliament session on March 10, 2014. According to the new law, a 30 per cent tax will be levied on jade, ruby, sapphire, emerald, diamond and other uncut stones.

There has been both legal and illegal export of jade. Actions are being taken against those who illegally export jade through border trade channels so as not to lose the country’s taxes, says an official from the mobile team.

 

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