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Myanmar garment exports post excellent growth
02 Mar '11
1 min read
This year is expected to be a booming year for the garment industry of Myanmar, when its earnings are supposed to grow further from 2010 levels.
With a year on year rise of over 20 percent in the international orders, the garment industry registered an excellent growth, last year.
The garment industry last year added 20 more new units. With these new members the total strength of the industry has now grown to 201 units, which includes 20 foreign firms.
Around half of the industry caters to the domestic needs, while the rest concentrates on fulfilling the overseas demand. The country's garment exports for fiscal year 2009-10 stood above US $280 million.
The sector has a huge labour force, which is more economical as compared to that of the neighbouring countries like Cambodia and Vietnam.
30 percent of the country's overall garment exports are to Japan, while South Korea and Germany each account for a 20 percent share, followed by Spain and UK with 10 percent share, each.
With a year on year rise of over 20 percent in the international orders, the garment industry registered an excellent growth, last year.
The garment industry last year added 20 more new units. With these new members the total strength of the industry has now grown to 201 units, which includes 20 foreign firms.
Around half of the industry caters to the domestic needs, while the rest concentrates on fulfilling the overseas demand. The country's garment exports for fiscal year 2009-10 stood above US $280 million.
The sector has a huge labour force, which is more economical as compared to that of the neighbouring countries like Cambodia and Vietnam.
30 percent of the country's overall garment exports are to Japan, while South Korea and Germany each account for a 20 percent share, followed by Spain and UK with 10 percent share, each.
Fibre2fashion News Desk - India
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