MT News
Myanmar earned over US$-2.5 billion from the garment export within the first six months of 2022, according to the Central Statistical Organization of Myanmar.
The country received US$-2.538 billion from the garment export from January to June in 2022.
Myanmar’s garment factories mainly operate on Cut-Make-Pack (CMP) system after they primarily import raw materials from abroad, according to the Myanmar Garment Manufacturers Association (MGMA).
As domestic garment businesses operate under the CMP system, only 10 percent of garment price was received as charges for its cloths.
Under the CMP system, the local entrepreneurs actually received around 10 percent of the garment price exported to abroad. The garment industry in Myanmar receives orders from EU, Japan, South Korea and China, according to the MGMA.
The export of garments mainly soared as of the end of 2015 and currently, 10 percent of total exports are from the garment industry, according to the Ministry of Commerce.
