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 isolationist policies and economic mismanagement of previous governments 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. AUNG SAN SUU KYI’s government is focusing on accelerating agricultural productivity and land reforms, modernizing and opening the financial sector, and developing transportation and electricity infrastructure.
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
8.4% (2016 est.)
Labor Force
22.13 million (2016 est.)
Labor Force by Occupation
Agriculture: 70%
Industry: 7%
Services: 23% (2001)
Unemployment Rate
0.8% (2015 est.)
Population Below Poverty Line
25.6% (2016 est.)
Household Income or Consumption by Percentage Share
Lowest 10%: 2.8%
Highest 10%: 32.4% (1998)
Budget
Revenues: $8.361 billion
Expenditures: $10.44 billion (2016 est.)
Central Bank Discount Rate
12% (31 December 2009)
Commercial Bank Prime Lending Rate
Stock of Narrow Money
$14.23 billion (31 December 2015 est.)
Stock of Domestic Credit
$18.55 billion (31 December 2015 est.)
Market Value of Publicly Traded Shares
$NA
Reserves of Foreign Exchange and Gold
$3.817 billion (31 December 2015 est.)
Debt External
$6.401 billion (31 December 2015 est.)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
853.48 (2012 est.)
