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 1990s has aimed at revitalizing the economy after three decades of tight central planning. Private activity markedly increased in the early to mid-1990s, but began to decline in the past several years due to frustrations with the unfriendly business environment and political pressure from western nations. Published estimates of Burma's foreign trade are greatly understated because of the volume of black-market, illicit, and border 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. Short-term growth will continue to be restrained because of poor government planning and minimal foreign investment.
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
4.813 billion kWh (1999)
Electricity production by source
Fossil fuel: 68.56%
Hydro: 31.44%
Nuclear: 0%
Other: 0% (1999)
Electricity Consumption
4.476 billion kWh (1999)
Electricity Exports
0 kWh (1999)
Electricity Imports
0 kWh (1999)
Unemployment Rate
7.1% (official FY97/98 est.)
Population Below Poverty Line
23% (1997 est.)
Household Income or Consumption by Percentage Share
Lowest 10%: 2.8%
Highest 10%: 32.4% (1998)
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
$6 billion (FY99/00 est.)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
kyats per US dollar - official rate - 6.5972 (January 2001), 6.5167 (2000), 6.2858 (1999), 6.3432 (1998), 6.2418 (1997), 5.9176 (1996); kyats per US dollar - black market exchange rate - 435 (yearend 2000)
