Myanmar bags US$384 mln from CMP garment sector in April 2023-2024 FY

Exports of garments manufactured under the cut-make-pack (CMP) system hit US$384 million in April during the financial year 2023-2024, according to Myanmar Garment Manufacturers Association.
Myanmar’s manufacturing sector which is largely concentrated in garment and textiles on a CMP basis attracts the largest foreign direct investment. The CMP garments are mostly shipped to Thailand, China, Singapore and European countries. The garment exports worth $200 million was conveyed to Thailand and China through the border, while exports valued at $184 million were sent to Europe and other European countries by sea.
Out of the foreign countries (China, Thailand, the Republic of Korea, Japan and China Taipei investing in the CMP garment sector, China is ranked first in the line-up.
There are 505 garment factories, 48 footwear factories, eight wig manufacturers and other 177 factories engaged in the manufacturing of bags, sports suits, sports shoes and socks, bringing about job opportunities for more than 100,000 workers.
Myanmar generated an income of $1.551 billion from the CMP garment export sector in the 2022-2023 FY. — TWA/EM