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 year8 พฤศจิกายน 2562
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.