The cutting, making and packaging (CMP) garment industry in Myanmar raked in about $1.836 billion in financial year 2016-17 ended March, says the Ministry of Commerce. Myanmar exports around 33 per cent of its CMP products to Japan, followed by 25 per cent to EU. It also supplies clothing items to South Korea, US and Chinese markets.

The CMP industry, which includes manufacturing of shoes, garment and bags, contributed 16 per cent to total exports earnings during the year. Last fiscal, Myanmar had earned $627 million from its CMP garment exports.

Sweden’s H&M and America’s Gap are among the major foreign companies that have invested in garment manufacturing in Myanmar. (RKS). Myanmar exports around 33 per cent of its CMP products to Japan, followed by 25 per cent to EU. It also supplies clothing items to South Korea, US and Chinese markets.

The CMP garment industry, which includes manufacturing of shoes, garment and bags, contributed 16 per cent to total export earnings of Myanmar during the year. Last fiscal, Myanmar had earned $627 million from its CMP garment exports.

According to the Myanmar, Garment Entrepreneurs Association (GEA) has set an ambitious export revenue target of $12 billion and creating around 1.5 million new jobs by 2020. The garment industry in Myanmar employs more than 300,000 persons.