CMP garment exports fetch $1.8bn for Myanmar in FY17

The CMP garment industry, which includes manufacturing of shoes, garment and bags, contributed 16 per cent to total export earnings of Myanmar during the year. Last fiscal, Myanmar had earned $627 million from its CMP garment exports.

The garment industry in Myanmar employs more than 300,000 persons. It has set an ambitious export revenue target of $12 billion and creating around 1.5 million new jobs by 2020, according to the Myanmar Garment Entrepreneurs Association.

Sweden’s H&M and America’s Gap are among the major foreign companies that have invested in garment manufacturing in Myanmar. (RKS)

Fibre2Fashion News Desk – India