Exports trebled between 2010 and 2014, reaching nearly $1 billion. Published by Aroq Ltd. Around 70 percent of garment products made in Myanmar are exported to the EU as well as Japan, Korea, Canada and the US. Myanmar’s garment exports are primarily exported to Japanese and European markets. The industry has been based on the CMP system for over 20 years. Demand has risen because Myanmar remains one of the world’s cheapest sources of labour, despite a recent hike in the daily minimum wage to K4800 earlier this year from K3600 before. 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P.S: If you liked this article, you might enjoy the just-style newsletter. In its last fiscal year, 2017/18, the country was estimated to have earned around $2.5bn from CMP garment exports. With garment exports as its top priority, the ministry is working with the Myanmar Garment Entrepreneurs’ Association to set a 10-year strategy to promote the sector and increase exports, a Myanmrese newspaper quoted deputy minister for commerce Aung Htoo as saying. Myanmar's garment exports are primarily exported to Japanese and European markets, as well as South Korea, China, and the US. Myanmar earned $4.6 billion (6.4 trillion kyats) from garment exports in 2018 and the MGMA targeted $10 billion (13.8 trillion kyats) from exports in 2024. It’s our best ever membership offer – just for you. Great Service and Fair price, Fully Refund on all items. NEXT. HIS code Commodity Trade value (USD) Proportion of garment exports 50 Silk 220.500 0.01% 51 Wool, fine or coarse animal hair; horsehair yarn and woven fabric 138 - 52 Cotton 13.787.788 0.55% 53 Vegetable textile fibres; paper yarn and woven fabrics of paper yarn 241.093 0.01% Behind Myanmar’s growing garment industry, which generates exports of $3 billion every year, are over 300,000 low-paid workers, 90 percent of whom are women. —Ko Htet (Translated by Ei Myat Mon) The sector is expected to earn up to 10 billion US dollars in 2024, said Khaing Khaing Nwe, secretary of Myanmar Garment Entrepreneurs Association (MGEA), at the 5th annual meeting at the Union of Myanmar Federation of Chambers of Commerce … Myanmar exports, as seen in the table below. Cambodia's garment and footwear exports last year increased 24 per cent in 2017 as the global economy performed well, driving demand higher in export destinations, according to a National Bank of Cambodia (NBC) report. Welcome to Myanmar and thank you for your interest in the Myanmar Garment Manufacturers Association! (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';fnames[1]='FNAME';ftypes[1]='text';fnames[2]='LNAME';ftypes[2]='text';fnames[3]='ADDRESS';ftypes[3]='address';fnames[4]='PHONE';ftypes[4]='phone';fnames[5]='BIRTHDAY';ftypes[5]='birthday';}(jQuery));var $mcj = jQuery.noConflict(true); Copyright © 2021 — Consult-Myanmar Co Ltd, Myanmar Co Reg No: 100066009, • All rights reserved. Toll Free from US: 1-866-545-5878. A garment worker wounded after a clash with assailants is seen in a hospital in Yangon, Myanmar October 15, 2018. "The garment sector is one of the prioritised sectors that drives increasing exports," the publication noted. The growth of Myanmar’s garment sector has taken place at a time when wages in other regional production hubs such as Vietnam have become increasingly expensive. Fax: +44 (0)1527 577423. The EU exported goods worth almost €609 million to Myanmar. The majority of Myanmar's garment factories operate under the CMP system, while those engaged in the industry are striving to transform CMP into the Free on Board (FoB) system, according to the Commerce Ministry. The garment manufacturing sector generated $5 billion worth in export revenues in fiscal 2018-19, according to the Ministry of Commerce. Projections for full-year 2018 are higher, with $930 million worth of garment exports forecast to Germany alone. LOCAL garment factories expect to receive new orders worth up to US$500 million from top global fashion brands as they start transferring production orders from troubled Myanmar to the Philippines and other Asian countries, providing huge relief to the pandemic-hit industry. Myanmar’s garment export saw a five-fold increase in the number of workers in the past five years, according to the Ministry of Commerce. Revenue from Myanmar’s garment and textile sector from 1 to 25 October this year reached US$ 325 million, an increase of $ 38 million when compared with the same period in the financial year 2018-2019, the ministry’s figure showed.The Southeast Asian country fetched some $ 287 million from garment exports … The CMP garment industry topped the list of the total export sector. E.g. +44 (0)1527 573 736 or complete this form.. ©2021 All content copyright just-style.com 2 were here. To learn more about the latest Travel Restrictions affecting all travelers entering Myanmar due to the COVID19 Pandemic, click here, #mc_embed_signup{background:#fff; clear:left; font:14px Helvetica,Arial,sans-serif; } This fiscal year, officials are expecting textile export revenues to reach US$5 billion. In the 2016-2017FY, about $2 billion was earned from exports of CMP garments. But only paid just-style members have full, unlimited access to all our exclusive content - including 21 years of archives. The figure increased to an estimated $2.5 billion in the 2017-2018FY and $2.2 billion in the 2018 mini-budget period (from April to September). We are selling export garment from Myanmar. Find new apparel sourcing destinations, assess trade flows and manage tariffs. The ability to copy articles is specially reserved for people who are part of a group membership. Myanmar earned about $2 billion from exports of CMP garments in the 2016-2017 financial year and the figure increased to an estimated amount of $2.5 billion in the 2017-2018 financial year and $2.2 billion from April to September in 2018. Explore myanmar textile and clothing import , exports news in myanmar textlie & garment industry guide. Myanmar Country Growth v/s World Growth v/s GDP Growth PNG This is a significant growth of over 75% compered to the financial year of 2017-2018 88% of the Apparel Exports are still Garments. Get the daily apparel and textile news as it happens, Weekly News Summary: Myanmar exported $1.86 billion worth of products from garment units operating under the cut-make-pack (CMP) system as of the first week of January in fiscal year 2017-2018, according to the commerce ministry. Myanmar services export is 4,689,124,045 in BoP, current US$ and services import is 3,456,151,270.80 in Bop, current US$. Aroq publishes: just-auto.com | just-food.com | just-drinks.com | just-style.com, Get full access to all content, just $1 for 30 days. This fiscal year Myanmar is poised to reach new heights. Sign-up to the just-style newsletters and get 'Too Many Standards' for FREE, Daily Alert: By Michelle Russell | 18 October 2018 Font size Email Print Myanmar reaped earnings of US$2.2bn from garment exports during the first six months of its financial year, new figures show. Tel: Intl +44 (0)1527 573 600. With the exponential increase in garment exports since 2010, they now account for 10 percent of Myanmar’s total export revenues. We recommend moving this block and the preceding CSS link to the HEAD of your HTML file. Consult-Myanmar Co Ltd, Myanmar Co Reg No: 100066009. Coats opens first of three global innovation hubs NB: The best way to find information on this website is to key in your search terms into the Search Box in the top right corner of this web page. During fiscal 2018-19, the textile manufacturing sector generated US$4.6 billion in export revenue, making up nearly 10 percent of the country’s export revenues, according to the Ministry of Commerce. In 2018, the garment export sector earned nearly 4.6 billion US dollars. Garment exports to the EU market had increased by 80 per cent. Exports in Myanmar decreased to 1416.30 USD Million in August from 1566.50 USD Million in July of 2020. just-style gives you the widest apparel and textile market coverage. Myanmar’s trade deficit turned to a surplus between July 2018 and September 2018 (Transition Period 2), for the first time since 2014-15, reflecting stronger exports and declining imports, according to the report. In recent years, the export value of CMP garments has tripled over the last two fiscals. In 2024, the garment sector’s export earnings are projected to reach up to 10 billion US dollars, according to the 5th annual general meeting of Myanmar Garment Entrepreneurs Association at the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) on 11 May, 2019. The country's financial institutions are still in their infancy, and there is a need for more training resources to help bridge the industry's skills gap. It tremendously grew to $4.6 billion in the fiscal 2018-2019, the ministry said. All in one place. Our organization is proud to be the main forum and business services organization supporting the garment industry in Myanmar. Revenue from the garment and textile sector saw an increase of 13 per cent in the financial year 2018-2019 compared to the same period in the previous financial year. Myanmar is the EU’s 69th largest trading partner (accounting for 0.1% of the EU’s total trade). ministry of commerce export/import trade situation of myanmar in (1-4-2018) to (6-4-2018) compared to the same period of 2017-2018 fiscal year (cso ၊ custom negotiation list) Fri, 04/20/2018 - 07:26 -- … You can opt out of individual newsletters or contact methods at any time in the 'Your Account' area. It tremendously grew to $4.6 billion in the 2018-2019FY, according to the Commerce Ministry. Garment exports totalled $1.46 billion in 2015, accounting for about 10 per cent of all exports. Myanmar’s garment sector is on track to meet a target of $10 billion in exports, according to the Myanmar Garment Entrepreneurs Association (MGEA), which had laid out the target and a goal to create one million jobs under the Myanmar Garment Industry Strategic Plan 2014-2024. In the financial year 2018-2019 The Apparel Exports from Myanmar went up to 5.3 Billion USD. Japan, South Korea and the European Union import garments from Myanmar. However the Handbag and Footwear exports are growing very fast due to the trade war between USA and China. According to figures compiled by SMART Myanmar, hotspots include Germany, which accounted for $519 million worth of exports in 2017 and the United Kingdom, which bought garments worth $213 million in the same year. Merchandise exports from Myanmar increased by 7.95% compared to 2018. Clicking above tells us that you're OK with both this and with our privacy policy, terms and conditions and cookie policy. "The CMP garment industry has emerged as a very promising one with preferential trade from western countries.". To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on Address: Aroq House, 17A Harris Business Park, Bromsgrove, Worcs, B60 4DJ, UK. Goods exports grew up by $ 1.32 billion in 2019 (the value of merchandise exports from Myanmar amounted to $16.6 billion in 2018) This represents a near doubling of garment export revenue in just two years. Garment export revenues in 2018 are predicted to remain around $2.7 billion. In the period April to September 2018, exports from garment factories that operate under the Cut-Make-Pack (CMP) system increased by $1bn compared to the same period last year, according to Government newspaper Global New Light of Myanmar, published by the Ministry of Information. Discover the latest apparel and textile research, I want to hear about apparel and textile industry webinars and relevant offers. It was only $850 million in fiscal 2015-16. Myanmar's isolation from world trade for more than a decade means it is now playing catch-up in key areas ranging from compliance and sustainability, to infrastructure and energy. This is a near three-fold increase on exports of $850m in the 2015/16 fiscal year. The figure is $568 million higher than exports for the same period in the last fiscal. In the 2016-2017FY, about $2 billion was earned from exports of CMP garments. Projections for full-year 2018 are higher, with $930 million worth of garment exports forecast to Germany alone. The value of merchandise exports from Myanmar totalled $ 17.9 billion in 2019. In 2016-17, about $2 billion was earned from such exports. Myanmar’s CMP garment sector earns about US$ 300 million annually and the country will get US$3 billion if it can manage to shift from the CMP system to the free-onboard (FOB) system. Translated from Burmese by Thet Ko Ko You may also like these stories: The figure grew an estimated $2.5 billion in 2017-18Y and $2.2 billion in the 2018 mini-budget period (from April to September). The key EU imports from Myanmar are dominated by textiles, footwear and agricultural products. You are agreeing for just-style.com to send you newsletters and/or other information about our products and services that are relevant to you by email. PREVIOUS, Dozens of garment workers injured in Myanmar protests Get our weekly best-of roundup, Apparel and textile Research Updates: According to an overview of Myanmar on re:source by just-style, the new online strategic planning tool from the team behind the publication, while a process of reform has been underway in the country since 2011, many international apparel brands and retailers are taking a cautious approach when it comes to extending their supply chains into the region. In 2018, the export earnings from the garment sector reached nearly 4.6 billion US dollars. (DS), To see the original article click link here. Receive our latest content delivered right to your inbox. The European Union is understood to have doubled its order for Myanmar's CMP garments this year, with the order estimated at around $180m. In fiscal year 2018-19, Myanmar-made garments were among the largest export categories in the country, with over US$4 billion worth of garments exported, according to the Ministry of Commerce. • Privacy Policy • Disclaimer, Singapore Business Federation’s Networking Session in Yangon, Import office equipment and service related equipment, Development Zone for Tax Exemption under MIL, Restricted Investment Activities under MIL, Restricted areas for foreigners and tourists in Myanmar, Business Chambers and Associations in Myanmar, The Inside Story of Thailand and Myanmar’s Troubled Dawei Mega-Project, Infrastructure, agriculture sectors at risk of slower investments, No disruptions to Korea-backed industrial park in Yangon, Kirin Scraps Joint Venture With Myanmar Military-Owned Firm After Coup, Myanmar to continue efforts to support economy amid COVID-19, European Union Import Garments from Myanmar, Myanmar Garment Entrepreneurs Association, https://www.youtube.com/watch?v=xkPm2XpaAzc, https://www.youtube.com/watch?v=9uJ1wIkICYs. I am so confident you will love complete access to our content that today I can offer you 30 days access for $1. Picture taken October 15, 2018. Efforts to shift more toward the higher value-added “free-on-board” (FOB) approach have not met with much success. of search terms would be “property research report”, ”condominium law”, “Puma Energy”, “MOGE”, “yangon new town”,”MECTEL”, “hydropower”, etc. Garment Exports from Myanmar Rise January 24, 2018 by thiha Myanmar exported $1.86 billion worth of products from garment units operating under the cut-make-pack (CMP) system as of the first week of January in fiscal year 2017-2018, according to the commerce ministry. The country has over 400 garment factories and in 2016 employed 3500,000 workers. The total export earnings from Myanmar’s garment and textile industry are expected to reach US$10 billion by 2024, according to the MGMA. Exports in Myanmar averaged 1067.24 USD Million from 2010 until 2020, reaching an all time high of 1799.10 USD Million in November of 2019 and a record low of 502.60 USD Million in April of 2011. The EU imported goods worth €2.8 billion from Myanmar. Since 2013, Myanmar’s garment sector has shown staggering export oriented growth. */. The export value of CMP garments was only $850 million in the 2015-2016 financial year, but it has tripled over the last two FYs. The industry operates around 400 garment factories, employing more than 300,000 workers. /* Add your own Mailchimp form style overrides in your site stylesheet or in this style block. It also tremendously grew to $4.6 billion in the 2018-2019 fiscal year. That said, garment exports tripled from 2012 to 2017, and the introduction of a Code of Conduct for MGMA member companies and the country's first minimum wage are helping position it as a safe and ethical supplier. Export income from the garment and textile industry was expected to reach US$10 billion by 2024, an official from the Myanmar Garment Entrepreneurs Association claimed. By Kyaw Htike Soe.
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