Export earnings from the cut-make-pack (CMP) garment sector in Mynamar was $2.332 billion by early March of the current fiscal, according to the country’s commerce ministry. Export earnings from this sector rose from $337 million in 2010 to nearly $1 billion in 2014. Garments, which rank second in the list of export items, are a priority for the ministry.
Myanmar’s financial year ends on March 31. Japan, South Korea and the European Union (EU) import CMP garments from Myanmar.
In 2015, the export earnings hit US$ 1.46 billion, accounting for 10 per cent of the total export value of the country. In the same year, the garment export to EU market increased to 80 per cent, according to a report in Myanmarese news website.
The commerce ministry is following a ten-year strategy for this sector in cooperation with Myanmar Garment Entrepreneurs Association.
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Myanmar’s export earnings from garments over $2 bn
