Myanmar’s garment exports will reach 1.0 billion US dollars in this fiscal year
According to the “Global New Light of Myanmar” report on March 13, Myanmar’s Ministry of Commerce reported that the first 11 months of this fiscal year (April 2016 to February 2017) were based on the cut-sewing-package (CMP) system. Myanmar’s exports of garments, shoes, bags and other products reached US$1.649 billion, an increase of 2.37 times compared with US$694 million in the same period of the previous fiscal year, a large increase. According to reports, foreign investment approved by the Myanmar Investment Commission this fiscal year mainly flows into the garment manufacturing industry, and it is expected that garment exports will reach US$1.855 billion by the end of the fiscal year. Data shows that Myanmar’s garments are mainly exported to Japan, the European Union, South Korea, the United States, and China, and nearly 65% of foreign investment in garment manufacturing comes from China. Myanmar’s garment exports will reach US$1.855 billion this fiscal year
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