Myanmar’s “Eleven” reported on August 13 that according to data from the Myanmar Central Bureau of Statistics, in the first three months of the 2023/24 fiscal year, exports of processed clothing (CMP) were 1.0474 billion U.S. dollars , the same below), a year-on-year decrease of 127 million.
In the 2022/23 fiscal year (April 2022-March 2023), garment exports will be 5.388 billion. In the 2021/22 transitional fiscal year (October 2021-March 2023), garment exports will be 2.229 billion.
According to the Ministry of Commerce, garment exports in the 2019/20 fiscal year were nearly 4.8 billion, a year-on-year decrease of US$63 million. In 2018, Myanmar’s top ten garment exports were Germany 930 million, Japan 834 million, South Korea 399 million, the United Kingdom 323 million, Spain 294 million, France 266 million, the United States 211 million, Denmark 158 million, Italy 157 million, and the Netherlands 145 million. 100 million.
Myanmar’s garment industry mainly earns processing fees through processing supplied materials, with orders coming from Japan, China, South Korea, the European Union, etc. In 2010, Myanmar’s garment processing exports were only 337 million US dollars, which tripled to nearly 1 billion US dollars in 2014.
