Myanmar earns US$538 M from CMP garment export

Myanmar earned US$538 million from CMP garment export and US$433 million from natural gas export in April and May, according to Ministry of Commerce.

Myanmar exported US$2.4 billion worth of products in this period.

The CMP garment export also topped the export list in the same period of last year with US$277 million, according to the ministry.

“We earned more US$179 million than last year amount from natural gas export because the natural gas price is increased this year,” said Assistant Secretary Khin Maung Lwin from the ministry.

The CMP garment sector is running with ten factories in 2017 under fully online licence system and is now expanded to over 300 factories.

The CMP garment export was US$1 billion in 2012-13 FY and is now reached to US$3 billion in 2017-18 FY.

Myanmar exported US$337 million worth of garments in 2010 and about US$1 billion worth of garments in 2014, according to the ministry.

The garment export reached to US$1.46 billion in 2015 reaching to ten per cent of total exports of Myanmar. The export to EU market was 80 per cent increased in compared with previous years.

Myanmar exported US$2.4 billion worth products and imported US$3.4 billion in April and May in this fiscal year. Total trade volume is US$5.8 billion in this period. Among them, Myanmar earned US$4.5 billion from maritime trade and US$1.3 billion from border trade, sources from the ministry said.

Source: Eleven Myanmar

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