Economy Overview
Despite these improvements, living standards have not improved for the majority of the people residing in rural areas. Burma remains one of the poorest countries in Asia – approximately 26% of the country’s 51 million people live in poverty. The previous government’s isolationist policies and economic mismanagement have left Burma with poor infrastructure, endemic corruption, underdeveloped human resources, and inadequate access to capital, which will require a major commitment to reverse. The Burmese government has been slow to address impediments to economic development such as insecure land rights, a restrictive trade licensing system, an opaque revenue collection system, and an antiquated banking system. The newly elected government, led by AUNG SAN SUU KYI, will likely focus on accelerating agricultural productivity and land reforms, modernizing and opening the financial sector, and improving fiscal management.
Agriculture Products
rice, pulses, beans, sesame, groundnuts; sugarcane; fish and fish products; hardwood
Industries
agricultural processing; wood and wood products; copper, tin, tungsten, iron; cement, construction materials; pharmaceuticals; fertilizer; oil and natural gas; garments; jade and gems
Industrial Production Growth Rate
13.7% (2015 est.)
Labor Force
36.18 million (2015 est.)
Labor Force by Occupation
Agriculture: 70%
Industry: 7%
Services: 23% (2001)
Unemployment Rate
5.1% (2014 est.)
Population Below Poverty Line
32.7% (2007 est.)
Household Income or Consumption by Percentage Share
Lowest 10%: 2.8%
Highest 10%: 32.4% (1998)
Budget
Revenues: $7.796 billion
Expenditures: $9.702 billion (2015 est.)
Central Bank Discount Rate
12% (31 December 2009)
Commercial Bank Prime Lending Rate
Stock of Narrow Money
$14.73 billion (31 December 2014 est.)
Stock of Domestic Credit
$16.91 billion (31 December 2014 est.)
Market Value of Publicly Traded Shares
$NA
Reserves of Foreign Exchange and Gold
$8.728 billion (31 December 2014 est.)
Debt External
$6.351 billion (31 December 2014 est.)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
815 (2011 est.)
