Burma is a resource-rich country, even though its economy is one of the least developed in the world. It is important to know before leaving for Burma that the main sectors of activity are: agriculture, textile industry, mining and petroleum industry.
AN INTERESTING POTENTIAL FOR APPAREL MANUFACTURING
Although Burma has not been one of the preferred suppliers of the big western brands, the junta has had a big impact on the success of the textile market. This can be explained by a lack of budget and funding. Industries such as weaving or dyeing are not at all competitive with other countries.
The country is trying to open up to globalization and enjoy its benefits. Today, foreign investment would be worth more than $ 6 billion, and all major groups are interested in Burma. Textiles still account for the vast majority of exported manufactured goods and a significant share of Burmese GDP. The confectionery factories, for the time being still few in number, will benefit at least in part from these investments.
UNCONTOURNABLE ADVANTAGES TO PRODUCE CHEAP CLOTHES
Burma has more than 50 million inhabitants. It therefore has a labor force that is much more available than in Laos or Cambodia (its neighboring countries). The country will therefore be less rapidly saturated. Also note that the current average wage of a textile worker is between USD 50 and USD 60 per month (slightly lower than in Bangladesh and well below its other neighbors (China, Thailand, Cambodia). To remain competitive despite its hourly productivity which is still low.
BUT STILL NOT READY TO PRODUCE CLOTHES FOR INTERNATIONAL BRANDS
Burma will still need a few years before it can catch up with the delay before it opened to the outside world. Its lack of infrastructure may still be a hindrance to its development but the authorities are trying to find solutions. One could conclude by saying that Myanmar is a country of future that could please buyers who want to discover new lands but they should get ready to have a lot of shipment and quality problems by working in Myanmar at this point.