CMP garment exports make US $ 1.8 billion for Myanmar in FY ’17 | Trade News Myanmar
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CMP garment exports make US $ 1.8 billion for Myanmar in FY ’17

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Myanmar Garment Industry

Image Courtesy: globalnewlightofmyanmar.com

The cutting, making and packaging (CMP) garment industry which includes manufacturing of shoes, garment and bags in Myanmar managed to earn around US $ 1.836 billion in 2016-17 financial year ended this March. This has reportedly been disclosed by Commerce Ministry of the country.

Myanmar exports 33 per cent of CMP products to Japan, followed by the EU with 25 per cent. The country also supplies clothing items to South Korea, the US and Chinese markets. CMP export contributed 16 per cent to total export earnings of Myanmar during the year. Last fiscal, the country had earned US $ 627 million from its CMP garment exports.

Also ReadStruggles shaping up Myanmar’s garment workers

It may be noted here that the garment and textile industry is a major contributor to the country’s economy and this industry is an increasingly popular ‘trade of choice’ for many low income families, especially those from rural areas there. Over 400 apparel manufacturing units are there in Myanmar, employing over 300,000 people including a large number of uneducated women.

Sweden’s H&M and US’ GAP are among the major foreign fashion brands that have invested in garment manufacturing in Myanmar.

 

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