Myanmar’s jade export earnings surge

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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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. 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...

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.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

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