Myanmar earns over $1.04 bln from CMP garment exports in Q1 of this financial year

According to the statement of the Central Statistical Organization under the Ministry of Planning and Finance, the export value of the cut-make-pack (CMP) garments reached over US$1.04 billion in the first three months of this financial year.
In the 2022-2023 financial year, Myanmar pocketed $1,363.9 million from CMP exports in Q1, $1,841.1 million in Q2, $1,136.4 million in Q3, and $1,047.4 million in Q4, accumulating to $5.3888 billion.
There are up to 505 foreign-invested garment factories and workshops in Myanmar that run under the CMP system, and the largest investment comes from China. Chinese Taipei, Thailand, South Korea, and Japan have also invested in that sector, according to the statistics.
The Ministry of Labour stated that CMP system enterprises, which stand at the top of the export possibilities in Myanmar, currently operate with more than 700 factories.
According to the Myanmar Garment Manufacturers Association, the garment industry is being carried out through the CMP system in Myanmar, and they are mainly receiving orders from Japan, China, S Korea, and EU countries.
Among the domestic enterprises, CMP enterprises are involved in a wide range of investment sector, and from these enterprises, many employment opportunities for labourers are being created in the country.
A total of 602 CMP factories are being operated in Yangon Region, 71 in Bago Region, nine in Mandalay Region, one in Sagaing Region, 18 in Ayeyawady Region, three in Magway Region, two in Kayin State and three in Nay Pyi Taw. — TWA/CT