In 2018, export earnings of Myanmar’s garment sector touched nearly $4.6 billion dollars. And by 2024, total export earnings are expected to reach $20 billion. While the garment sector has seen a five-fold increase in the number of workers their income has increased tenfold. There are 356 garment factories in the country. The garment industry has been on an upward trend. In 2022, export earnings from the garment industry are projected to reach eight to ten billion dollars. The industry is expected to create 1.5 million jobs. Most of workers will be female.

Myanmar exports items from seven major commodity groups. These include: manufactured goods consisting mainly of garments as well as agriculture produce, minerals, cattle, fisheries and forestry products. Myanmar’s major import items are divided into four groups — capital goods, intermediate goods, consumer goods and cut-make-pack garment products. The higher volume of exports reflects the government’s efforts to reduce the trade deficit by screening luxury imports, encouraging import substitutes and boosting exports. They also come at a time when foreign direct investments into the country have eased over the past year. Myanmar’s current account deficit, which includes the trade deficit, is financed mainly by foreign direct investments into the country.