Economy Overview
Burma has a mixed economy with private activity dominant in agriculture, light industry, and transport, and with substantial state-controlled activity, mainly in energy, heavy industry, and the rice trade. Government policy in the last 11 years, 1989-99, has aimed at revitalizing the economy after three decades of tight central planning. Thus, private activity has markedly increased; foreign investment has been encouraged, so far with moderate success. State enterprises remain highly inefficient and privatization efforts have stalled. Published estimates of Burma's foreign trade are greatly understated because of the volume of black-market trade. A major ongoing problem is the failure to achieve monetary and fiscal stability. Burma remains a poor Asian country and living standards for the majority have not improved over the past decade. The short-term outlook is for continued sluggish growth because of poor government planning, internal unrest, minimal foreign investment, and the large trade deficit.
Agriculture Products
paddy rice, corn, oilseed, sugarcane, pulses; hardwood
Industries
agricultural processing; textiles and footwear; wood and wood products; copper, tin, tungsten, iron; construction materials; pharmaceuticals; fertilizer
Industrial Production Growth Rate
NA%
Labor Force
19.7 million (FY98/99 est.)
Electricity production
4.31 billion kWh (1998)
Electricity production by source
Fossil fuel: 61.72%
Hydro: 38.28%
Nuclear: 0%
Other: 0% (1998)
Electricity Consumption
4.008 billion kWh (1998)
Electricity Exports
0 kWh (1998)
Electricity Imports
0 kWh (1998)
Currency
1 kyat (K) = 100 pyas
Unemployment Rate
7.1% (official FY97/98 est.)
Population Below Poverty Line
23% (1997 est.)
Household Income or Consumption by Percentage Share
Lowest 10%: NA%
Highest 10%: NA%
Budget
Revenues: $7.9 billion
Expenditures: $12.2 billion, including capital expenditures of $5.7 billion (FY96/97)
Commercial Bank Prime Lending Rate
Market Value of Publicly Traded Shares
Reserves of Foreign Exchange and Gold
Debt External
$5.9 billion (FY98/99 est.)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
kyats (K) per US$1 - official rate - 6.2665 (January 2000), 6.2858 (1999), 6.3432 (1998), 6.2418 (1997), 5.9176 (1996), 5.6670 (1995); kyats (K) per US$1 - market exchange rate - 330 (yearend 1999)
