Myanmar’s exports were $5.313 billion in 2019. They experienced a steep decline to $4.430 billion in 2020, then improved to $4.280 billion in 2021, but remained below pre-pandemic levels. In the first quarter of 2023, the country exported apparel worth $725.633 million, according to Fibre2Fashion’s market insight tool TexPro.
Myanmar’s apparel exports significantly increased by 51.63 per cent in 2022, reaching $6.495 billion, despite political upheaval and protests.
The exports made a full recovery from the impact of COVID-19, surprising many in the textile industry.
Myanmar’s largest market in 2022 was Japan, followed by Germany, Spain, the UK, and other countries.
Japan was Myanmar’s largest market in 2022, with a 16.57 per cent share, amounting to $1.076 billion out of the total exports of $6.495 billion. Other top markets included Germany (11.23 per cent), Spain (9.88 per cent), the United Kingdom (8.41 per cent), South Korea (7.27 per cent), Poland (6.50 per cent), the Netherlands (6.01 per cent), the United States (5.82 per cent), France (3.73 per cent), and Italy (2.98 per cent). Europe and Asia-Pacific were the dominant regions for Myanmar’s apparel exports, as per TexPro.
Many within the textile industry were surprised by the increase in Myanmar’s apparel exports due to the political turmoil in the country. However, the data indicates that Myanmar returned to normalcy after these disruptions.
Fibre2Fashion News Desk (KUL)
