2 June
MYANMAR’S imports of raw materials used by CMP (cut-make-pack) businesses has touched US$1.5 billion in near-ly eight months, up by over $250 million compared with the corresponding period of the previous fiscal, according to the Ministry of Commerce.
During the same period in the last 2017-2018 FY, My-anmar spent $1.23 billion on import of CMP raw materials from partner countries.
In the week from 18 to 24 May, CMP raw materials valued at $57.4 million were imported from overseas trade partners, an increase of $8 mil-lion from the same period in the previous FY, when CMP imports were pegged at $49.3 million.
CMP is one of the four ma-jor groups of import products in Myanmar. Garment facto-ries and businesses manu-facturing bags and slippers predominantly operate under the CMP system. The garment industry mostly imports raw materials from Japan, Korea, and some European countries, exporting finished goods to those countries.
Besides CMP raw mate-rials, Myanmar also imports capital goods, intermediate goods, and consumer products from countries in Asia, Africa, Europe, and America.
As of 19 April in the cur-rent 2018-2019 Fiscal Year, Myanmar has imported $3.72 billion worth of capital goods, $4.43 billion worth of interme-diate goods and $2.15 billion worth of consumer goods, to-talling $11.8 billion. Barring CMP raw materials, imports of capital goods, intermediate goods and consumer products have declined by over $1 bil-lion compared to the previous FY.—Swe Nyein
(Translated by Khaing Thanda Lwin)
