Southeast Asia Information Port (www.dnyxxg.com) reports that Myanmar's fisheries export pattern exhibits a distinct structural characteristic. According to fisheries production statistics for 2023-2024, marine products accounted for 70% of its exports, while freshwater products accounted for 30%. Currently, Myanmar's aquatic products are exported to 42 countries and regions, including European countries. In the 2023-2024 fiscal year, cumulative exports of aquatic products reached 522,565.814 metric tons, generating foreign exchange earnings of US$729.422 million.
Currently, Myanmar's fisheries development faces a dual challenge: dwindling marine resources and persistently high production costs. This situation may lead to a reduction in the scale of offshore fishing operations in 2024, thereby affecting the volume of marine product exports. Furthermore, the stability of marine product supply arriving at Yangon port will depend on the diesel supply situation after the fishing season resumes in July. Against this backdrop, shifting towards modern aquaculture has become a core direction for the sustainable development of Myanmar's fisheries.
An official from the Myanmar Fisheries Federation stated that Myanmar is prioritizing the development of aquaculture to address the risks of declining exports and ensure stable foreign exchange earnings. "Building modern aquaculture zones domestically could generate nearly $200 million in revenue annually, effectively address the shortage of fishery products, and provide solid support for the country's continued revenue generation," the official added.
As a benchmark project for aquaculture transformation, the modern fish farming project in Phan Tha Naw Township, Ayeyarwady Region, is now in its seventh year. Utilizing over 3,000 acres of water, the project employs advanced aquaculture technology and scientific management methods, significantly improving efficiency—the stocking density in each pond has increased dramatically from the traditional 2,000-5,000 fish to approximately 120,000, with a single pond yielding up to 120 tons. Currently, the project has reached export agreements with the United States and China, and preparations are progressing steadily, with exports scheduled to officially commence in 2024.
It is noteworthy that Myanmar's fisheries exports and domestic sales have a clear division of labor: marine products are primarily used for export to generate foreign exchange, while freshwater products are focused on supplying the domestic market. However, frequent natural disasters and rising production costs may still disrupt fisheries production. Industry insiders point out that continuously strengthening the development of marine and freshwater aquaculture can not only ensure a stable domestic supply of aquatic products but also promote sustained growth in export revenue, helping Myanmar build its image as a reliable aquatic product exporter in the region.
