CMP constitutes 26% of overall export values in H2 of mini-budget period

MYANMAR’S garment exports in the second three months of the 2021-2022 mini-budget period (October-March) accounted for over 26 per cent of overall export earnings, according to the announcement of the Ministry of Planning and Finance. During the first half of the mini-budget period, Myanmar generated US$1.055 billion from garment exports. The income in the second half of the six month mini-budget period amounted to $1.174 billion. The values of Myanmar’s garment export in the six months of the 2021-2022 mini-budget period (October-March) were $302.9 million in October, $337.9 million in November, $414.3 million in December, $410.3 million in January, $360.6 million in February and $403.8 million in March, totalling $2.229 billion. Although some labour-intensive enterprises faced financial hardship amid the COVID-19 negative impacts and the political changes, the industry is now returning to normal after the COVID-19 vaccination programme for the workers, as per the HIS Markit’s September report. In a bid to boost factory productivity with a healthy workforce in the garment industry, Mobile Medical Check to garment workers took place in Yangon and Nay Pyi Taw, supported by UNICEF Myanmar. Myanmar’s manufacturing sector is largely concentrated in garments and textiles produced on the Cutting, Making, and Packaging basis, and it contributes to the country’s GDP to a certain extent. Myanmar shipped CMP garments to markets in Japan and Europe, along with the Republic of Korea, China, and the US in the previous years.

Source: GNLM

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