The Global New Light of Myanmar reported that the Myanmar Garment Manufacturers Association (MGMA) stated that Myanmar’s garment industry has been directly impacted by the reduction in global demand due to the COVID-19 epidemic in recent months, supply chain disruptions and customer cancellations of orders, especially from the European Union. and demand orders from Western countries have been cancelled, which has seriously affected the garment industry, which accounts for 30% of Myanmar’s exports.
According to statistics from the Myanmar Ministry of Commerce, exports in the first 22 months of the 2019/20 fiscal year reached US$4 billion. In addition, exports in the 2018/19 fiscal year last year were US$4.6 billion. Therefore, the export value of the garment industry in this fiscal year It is expected to be in recession compared with the same period last year, which may lead to an increase in the number of unemployed people, which is detrimental to the stable development of social and economic development. The temporary prospects of garment industry exports are bleak.
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