Myanmar Exported 1.047 Billion Dollars Of Garment Processed With Supplied Materials In The First Three Months Of This Fiscal Year

Myanmar's National Day News reported on August 13 that, according to the data of the Central Bureau of Statistics of Myanmar, the export of CMP in the first three months of the 2023/2024 fiscal year was 1.047.4 billion US dollars, a year-on-year decrease of 127 million.

In the 2022/2023 fiscal year (April 2022 March 2023), the total export of ready to wear was 5.388 billion. In the transitional fiscal year 2021/2022 (October 2021 March 2023), the export of ready-made clothes reached 2.229 billion yuan.

According to the Ministry of Commerce, in the fiscal year 2019/2020, the export of ready-made clothes was nearly 4.8 billion, a year-on-year decrease of 63 million US dollars. In 2018, the top ten exporters of Myanmar's ready to wear were Germany 930 million, Japan 834 million, South Korea 399 million, Britain 323 million, Spain 294 million, France 266 million, the United States 211 million, Denmark 158 million, Italy 157 million, and the Netherlands 145 million.

The garment industry in Myanmar mainly earns processing fees through processing with supplied materials, and the orders come from Japan, China, South Korea, EU, etc. In 2010, Myanmar's garment processing export volume was only 337 million, which tripled to nearly $1 billion by 2014.

(Source: website of Ministry of Commerce)