Myanmar's Place in the Global Garment Business
economies. This success has been the result of a new government under Aung San Suu Kyi, which has resulted in democratic reforms and a shift towards a more capitalist economy. Annual GDP growth rates in the past few years have been around 7%, which puts Myanmar in the top ten for GDP growth, but the country is still very poor, with a GDP per capita of $6300, ranked 163rd in the world. While several neighboring countries are global leaders in textiles, the industry is relatively nascent in Myanmar. Yet, clothing ranks as the #6 export earner for the country (CIA World Factbook,… Continue Reading...