Myanmar bags US$384 mln from CMP garment sector in April 2023-2024 FY

hh 3
Garment workers are pictured at the CMP garment factory.

Exports of garments manufactured under the cut-make-pack (CMP) system hit US$384 million in April during the financial year 2023-2024, according to Myanmar Garment Manufacturers Association.
Myanmar’s manufacturing sector which is largely concentrated in garment and textiles on a CMP basis attracts the largest foreign direct investment. The CMP garments are mostly shipped to Thailand, China, Singapore and European countries. The garment exports worth $200 million was conveyed to Thailand and China through the border, while exports valued at $184 million were sent to Europe and other European countries by sea.
Out of the foreign countries (China, Thailand, the Republic of Korea, Japan and China Taipei investing in the CMP garment sector, China is ranked first in the line-up.
There are 505 garment factories, 48 footwear factories, eight wig manufacturers and other 177 factories engaged in the manufacturing of bags, sports suits, sports shoes and socks, bringing about job opportunities for more than 100,000 workers.
Myanmar generated an income of $1.551 billion from the CMP garment export sector in the 2022-2023 FY. — TWA/EM

Share this post
Hot News
Hot News
Meat production should focus on frozen and dried products
Meiktila possesses chances to export surplus products to domestic and foreign markets
Weekly Roundup
Tatmadaw regains control of Pa-O Self-Administered Zone, Kayah State after raid by PNLO, PDF terrorist groups
MAI plans Yangon-Vientiane flights on 25 June
MMPO to present cash assistance to offspring for 2024-2025AY
Five new basic education, industrial, agri and livestock High Schools open in Mandalay
Myanmar, ASEAN Japan Centre envisage collaboration in 2024 projects
CBM authorizes two more forex companies for petty cash purchases
Kampaiti border set to hit US$5M trade target in June