-Myanmar’s garment industry exports amount to nearly US$100 million
According to a report by the Global New Light of Myanmar on July 6, official statistics from the Ministry of Commerce of Myanmar show that the export volume of Myanmar’s garment industry in the past three months was nearly US$400 million, an increase of US$100 million over the same period last year.
With the lifting of European and American economic sanctions, Myanmar’s garment industry has ushered in new growth. There are currently more than 400 garment factories in Myanmar, employing more than 300,000 workers. Clothing is exported to Japan, Europe, South Korea, China, and the United States, with Japan and Europe having the highest order shipments. Myanmar’s garment industry is concentrated in the “cutting, manufacturing, and packaging” links. Its low labor costs are not only an attraction for investment, but also aggravate tensions between employers and employees. Myanmar labor leaders and policymakers hope that the domestic garment industry can transform into a more value-added “offshoring” system, where international garment manufacturers are not only responsible for cutting and manufacturing, but also responsible for material procurement and finished product transportation.
According to statistics from the Ministry of Commerce, Myanmar’s apparel exports reached US$1.8 billion in the 2016/17 fiscal year. Natural gas and agricultural products each account for 25% of Myanmar’s exports. The clothing industry accounts for 16%, mineral products account for 8%, fishing accounts for 5%, and forestry, animal products and other products account for 21%. Myanmar’s garment industry exports reached nearly US$400 million from April to June
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