Myanmar earned more than US$1 billion from garment exports between April and early September, making it the second leading item in the export sector, according to the Commerce Ministry.
Garment exports primarily go to Japanese and European markets. Additionally, it is also exported to South Korea, China and the U.S.
Myanmar’s garment industry is currently operated on the Cutting-Making and Packing (CMP) system, and those engaged in this industry are striving to transform from CMP into the Free on Board (FOB) system.
Myanmar’s cheap labour attract foreign garment producers to make investments in the country, which sometimes brought the workers into conflict over wages, depending on the market condition.
The estimated value of garment exports was about US$2 billion in Fiscal Year 2016-2017, according to the Commerce Ministry.
In the export sector, natural gas and agricultural products constituted 25 per cent of all exports, while CMP garments accounted for 16 per cent. Minerals made up eight per cent, fisheries five per cent and forest, animal products and other products accounted for 21 per cent. There are currently over 400 garment factories in Myanmar, with a labour force of more than 300,000.