Garment export volume reaches US$ 4.3 billion in 11 months in current FY
News Type: Marketing News
The garment export volume reached US$ 4.3 billion in 11 months in the current financial year, up US$ 1.1 billion compared with the same period of the previous year, said an official of the Ministry of Commerce.
“From October 1 to August 30 of 2018-2019 FY, garment export volume reached US$ 4,376.416 (US$ 4.376 billion). In the same period of last year, garment export volume reached US$ 3,203.892 million (US$ 3.203 billion),” said the official of the ministry.
In comparison with the current and the previous FYs, the current garment export volume exceeded US$ 1,172.524 (US$ 1.172 billion).
“The garment export volume reached nearly US$ 4.6 billion in 2018. It is expected garment export volume would reach US$ 10 billion in 2024, Khaing Khaing Nwe,” quoted Secretary of Myanmar Garment Entrepreneurs Association as saying at the Fifth Annual Meeting of MGEA held at the office of UMFCCI on May 11 in 2019.
Foreign investment is flowing mostly in garment sector. There are more than 500 members in the MGEA and more than 500,000 employees. Myanmar got 10 percent of income as sewing charge.
“Myanmar enjoys sewing charge as income. Some get 8 percent, some 12 percent. The quality product gets 12 percent. If the sewing charge is not many, it is about 8 percent. Therefore, the average is about 10 percent,” said Daw Khaing Khaing Nwe.
Translated and Edited by Win Htut
Source from：Eleven Media
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