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.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 $1 billion in 2014. Garments, which rank second in the list of export items, are a priority for the ministry.#
In 2015, the export earnings hit US$ 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. (DS)
Fibre2Fashion News Desk – India