Garment and footwear exports increase three times
2018-05-31 15:53:32 / MTG
Exports from garment and footwear industries have increased around three times during five years, said Aung Htoo, Deputy Commerce Minister at Myanmar Buyer’s Forum Stakeholders Conference.
With the development of garment sector, garment factories are trying to have accountability, security and international standards. In the previous five years, the country built around 250 garment and footwear factories. In 2012, export earnings from garment and footwear sectors increased from around US$ one million in 2012 to over US$ three million in 2017.
Khaing Khaing Nwe, secretary of Myanmar Garment Entrepreneurs Association said: “The garment sector sees an inflow of foreign investments. In 2017, the EU overtook Japan. Japan is also placing more garment order. Currently, the EU has topped the list of garment orders placed.”
In 2017, export earnings from the CMP garment sector reached nearly US$ 2.7 million.
Myanmar earns an average of 10 per cent income for sewing. Some garment industries earn eight per cent and 12 per cent incomes respectively based on products.
Source From: Eleven Myanmar
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