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Wednesday June 6, 3:47 AMMyanmar's earnings from gas sale to Thailand double in FY2006(Kyodo) _ 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 Tuesday.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. |
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