CMP garment export earnings hit over $2.2 bn in six months

Photo shows workers at a garment factory in Yangon. (Photo-Zeyar Nyein)
Out of total export value in the six-month mini budget from April to September this year, earnings from export of CMP garments reached the largest amount with US$2.2 billion, exceeding over US$1 billion compared to the same period of last year, according to the Ministry of Commerce.

In those six months, export of clothes made under CMP system was valued at US$2,279 million, exceeding US$1,003 million compared to last year.

Natural gas export value was ranked second with US$1,556 million, falling by US$86 million compared to the same period of last year.

The European Union had doubled its order for Myanmar’s CMP garments this year, said Khaing Khaing Nwe, secretary of Myanmar Garment Entrepreneurs Association last month.

“The EU order has doubled this year. The order was worth about US$90 million last year and it is about US$180 million this year,” said Khaing Khaing Nwe.

Unless there are changes in EU-Myanmar relations, good potential for garment market will continue, she commented.

The country’s garment export was valued at US$337 million in 2010 and the value jumped to about US$1 billion in 2014, according to the Commerce Ministry.

Garment export value hit US$1.46 billion in 2015.

SOURCE: ELEVEN MYANMAR

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