11 June 2024
According to the Myanmar Garment Manufacturers Association, orders from local Chinese garment factories are increasing due to the large number of people coming to Myanmar to sew clothes to be sold in China.
Myanmar’s manufacturing output increased for the first time in eight months in May last year, with new orders and stronger expansions in manufacturing. The S&P Global Manufacturing Purchasing Managers’ Index (PMI) survey, released on June 3, showed that progress has been made over Philippine, Vietnam, Malaysia, and Thailand.
Since October 2023, when the North Shan Conflict began, the PMI index has fallen below the midpoint of 50, and Myanmar’s manufacturing production increased in May 2024. The PMI index was 52.1, returning to above the midpoint of 50 for the first time in eight months.
As of last December 2023, 298 garment factories have been shut down across the country, according to the Myanmar Garment Industry Association, and the number of garment factories that have been shut down has risen to 36 percent of all garment factories, according to the Myanmar Garment Association.
According to surveys, the new orders that have been declining since October 2023 have recovered last May, and according to the latest statistics released by the Ministry of Economy and Commerce, over 9 months of the last fiscal year, foreign earnings from the amount of garment (stitched garment) exports were 3.308 billion dollars.
