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Over $ 1,174 million worth of garment products exported

Over US$ 1,174 million worth of garment products were exported in the second quarter of the 2021-2022 FY, according to the Ministry of Planning and Finance. The garment products, ordered from Japan, China, South Korea, and the EU member nations, were made locally through the CMP contract system.

Of 10 countries where locally-made garments were exported, garments worth $ 930 million were exported to Germany, $ 323 million to the UK, $ 294 million to the Spain, $ 266 million to France, $ 158 million to Denmark, $ 157 million to Italy, and $ 145 million to the Netherlands, respectively.

In addition to major exports such as rice, beans, and corns, garment exports under CMP system is the largest. Within the last five years, garment exports have more than quadrupled, and the garment sector was the most developed sector. Myanmar received $ 842.6 million from the garment exports in the second quarter of the 2020-2021. In the second quarter of the 2021-2022 FY, additional $ 332.2 million was made compared to the previous fiscal year, according to the statement of the Ministry of Planning and Finance.

Source: The Global New Light of Myanmar

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