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Myanmar’s apparel exports drop by half in two months

Dec 28, 2020
Myanmar’s apparel exports drop by half in two months

The export of apparels from Myanmar have declined by 50 per cent in two months because of drop in demand from the European market the ministry of commerce stated in a news report.  The exports of the country were valued at $214 million under the cut-make-pack (CMP) system for October and November months for the 2020-2021 in comparison to $450 for the same period previous fiscal.

The Myanmar Garment Manufacturers Association told a leading newspaper that the apparel business is expected to improve after the COVID-19 vaccine in Europe.

The coronavirus outbreak has caused supply chain disruptions across the global textile industry. The CMP apparel sector contributes close to 30 per cent of the country’s export sector. Suspension of trade by western countries and cancelled orders amidst the pandemic are responsible for the downward trend of garment exports. Japan is the largest market for Myanmar apparel, followed by the European Union.