Imports of CMP raw materials increase nearly 30 m USD

Imports of CMP raw materials increase nearly 30 m USD
Published 26 February 2020

 

Till 14 February of 2019-2020 fiscal year, the imports of raw materials by local CMP industries reached 909.194 million US dollars, up 29.525 million US dollars compared with the same period last year, according to the Commerce Ministry. 

Last year’s this time, the imports of CMP raw materials amounted to 879.669 million US dollars. 

Garment factories are running their operations under a CMP system.

Local garment industries have to mainly import raw materials from China. Due to the outbreak of COVID-19 in China, local garment industries are facing difficulty importing raw materials. 

They may face temporary suspension if they are unable to import raw materials at the end of April, according to a press conference by Myanmar Garment Entrepreneurs Association at UMFCCI on 21 February.