In the six-month April -September mini budget this year, earnings from export of cut-make-pack (CMP) garments in Myanmar was around $2.2 billion, which was around $1 billion more than the figure in the same period last year, according to the commerce ministry. The European Union (EU) had doubled its order for Myanmar’s CMP garments this year.
The EU order was worth about $90 million last year compared to $180 million this year, said Khaing Khaing Nwe, secretary of Myanmar Garment Entrepreneurs Association.
Unless there are changes in EU-Myanmar relations, good potential for garment market will continue, a report in a Myanmarese English-language daily quoted her as saying.
The country’s garment export was valued at $337 million in 2010 and it rose to about $1 billion in 2014, commerce ministry data show. Its value was $1.46 billion in 2015. (DS)