Myanmar has earned US $ 2.2 billion from its garment exports during the mini-budget period from April to September 2018. The export earnings have been made from those garment units that work under the cut-make-pack (CMP) system.
Notably, the export earnings have been made from those garment units that work under the cut-make-pack (CMP) system. The money earned is an increase of US $ 1 billion compared to what it was during the said period in 2017. This was stated by the Ministry of Commerce.
The CMP garment sector in the country had made an export earning of US $ 850 million during 2015-2016. The figures shot up in the following years.
During 2016-2017, the export value was US $ 2 billion, while it further surged to US $ 2.5 billion in 2017-2018.
The Ministry said that most of the garment factories in Myanmar were functioning under CMP system, with noteworthy trend being Free On Board (FOB) companies too intending to move to CMP category soon.
Myanmar has a labour force of 3,40,000 workers across 400 garment factories.