CMP businesses imported raw materials worth over $ 160 million in one month of this fiscal year which exceeded over USD $ 12 million when compared to the same period of last fiscal year

CMP businesses have imported raw materials worth over US$160 million over a month this fiscal year that started in October 1, exceeding over US$12 million compared to the same period of last fiscal year, according to data from the Ministry of Commerce. 

From October 1 to 25 in the current 2019-2020 fiscal year, CMP raw materials worth US$160.748 million while the amount of last year was US$148.588 million. So, this year's amount exceeded US$12.160 million. 

CMP system is mainly used in garment industry in Myanmar. The system is also seen in shoe-making and bag-making. However, Myanmar earns only 10 percent as CMP system is based on wages. 

Officials from Myanmar Garment Federation said that although the country earns just about US$300 million annually from CMP businesses, the adoption of FOB system can increase the earnings of US$3 billion.   

(Eleven Media Group: https://elevenmyanmar.com/news/cmp-businesses-import-raw-materials-worth-over-160m-in-one-month )

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