The EU Surpassed Japan, Become The Largest Garment Market In Myanmar

- Nov 16, 2017-

  According to the trade data, the EU has become the largest importer of apparel in Myanmar for the coming 2017 (2017) due to the consolidation of the two next-largest destination countries and to the EU. The EU's procurement from Myanmar in 2016 is almost the same many.

  Khine Khine Nwe, secretary-general of the Myanmar Garment Manufacturers Association, said: "Myanmar has developed quite fast and we must work hard to make money." He pointed out that the EU is Myanmar's second-largest importer in 2014 and 2015 」

  According to the UN International Trade Statistics Database, Myanmar exports $ 2.15 billion worth of ready-made garments to the global market in 2016, with the tariff codes for category 61 (knit) and category 62 (woven), respectively 961 million US dollars to the EU (accounting for about 45%). Japan became the largest buyer by 2016, accounting for 31% of Myanmar's garment exports and South Korea 16%.

  This trend is driven almost entirely by the increasing appetite in the EU market, not the weak demand in Japan. The EU's restoration of Myanmar's Generalized Scheme of Preferences (GSP) in 2013 and the higher cost of other garment-exporting countries have also made Myanmar more attractive.

  Filip Lauwerysen, executive director of the European Chamber of Commerce in Burma, said: "Costs are becoming more and more expensive in traditional garment-producing countries like China, and" very low "labor costs in Myanmar are also attractive More decisive factor for EU garment manufacturers to set up production bases in Myanmar. "

  Khine Khine Nwe said the GSP is a huge boost for Myanmar and added that MGMA also strives to comply with international standards and actively enter new markets.