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Economic overview
Burma (Myanmar) — 36 years of data
Historical Values
| Year | Value |
|---|---|
| 1990 | Burma is one of the poorest countries in Asia, with a per capita GDP of about $280. The government reports negligible growth for FY88. The nation has been unable to achieve any significant improvement in export earnings because of falling prices for many of its major commodity exports. For rice, traditionally the most important export, the drop in world prices has been accompanied by shrinking markets and a smaller volume of sales. In 1985 teak replaced rice as the largest export and continues |
| 1991 | Burma is a poor Asian country, with a per capita GDP of about $400. The nation has been unable to achieve any substantial improvement in export earnings because of falling prices for many of its major commodity exports. For rice, traditionally the most important export, the drop in world prices has been accompanied by shrinking markets and a smaller volume of sales. In 1985 teak replaced rice as the largest export and continues to hold this position. The economy is heavily dependent on the agric |
| 1992 | Burma is a poor Asian country, with a per capita GDP of about $500. The nation has been unable to achieve any substantial improvement in export earnings because of falling prices for many of its major commodity exports. For rice, traditionally the most important export, the drop in world prices has been accompanied by shrinking markets and a smaller volume of sales. In 1985 teak replaced rice as the largest export and continues to hold this position. The economy is heavily dependent on the agric |
| 1993 | Burma is a poor Asian country, with a per capita GDP of about $660. The nation has been unable to achieve any substantial improvement in export earnings because of falling prices for many of its major commodity exports. For rice, traditionally the most important export, the drop in world prices has been accompanied by shrinking markets and a smaller volume of sales. In 1985 teak replaced rice as the largest export and continues to hold this position. The economy is heavily dependent on the agric |
| 1994 | Burma has a mixed economy with about 70% private activity, mainly in agriculture, light industry, and transport, and with about 30% state-controlled activity, mainly in energy, heavy industry, and foreign trade. Government policy in the last five years, 1989-93, has aimed at revitalizing the economy after four decades of tight central planning. Thus, private activity has markedly increased; foreign investment has been encouraged, so far with moderate success; and efforts continue to increase the |
| 1995 | Burma has a mixed economy with about 75% private activity, mainly in agriculture, light industry, and transport, and with about 25% state-controlled activity, mainly in energy, heavy industry, and foreign trade. Government policy in the last six years, 1989-94, has aimed at revitalizing the economy after four decades of tight central planning. Thus, private activity has markedly increased; foreign investment has been encouraged, so far with moderate success; and efforts continue to increase the |
| 1996 | Burma has a mixed economy with about 75% private activity, mainly in agriculture, light industry, and transport, and with about 25% state-controlled activity, mainly in energy, heavy industry, and foreign trade. Government policy in the last seven years, 1989-95, 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; and efforts continue to increase t |
| 1997 | 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 eight years, 1989-96, 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; and efforts continue to increase the eff |
| 1998 | 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 nine years, 1989-97, 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; and efforts continue to increase the effi |
| 1999 | 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 10 years, 1989-98, 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; and efforts continue to increase the effici |
| 2000 | 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 |
| 2001 | 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 pol |
| 2002 | Burma is a resource-rich country that suffers from abject rural poverty. The military regime took steps in the early 1990s to liberalize the economy after decades of failure under the "Burmese Way to Socialism", but those efforts have since stalled. Burma has been unable to achieve monetary or fiscal stability, resulting in an economy that suffers from serious macroeconomic imbalances - including an official exchange rate that overvalues the Burmese kyat by more than 100 times the market rate. I |
| 2003 | Burma is a resource-rich country that suffers from abject rural poverty. The military regime took steps in the early 1990s to liberalize the economy after decades of failure under the "Burmese Way to Socialism", but those efforts have since stalled. Burma has been unable to achieve monetary or fiscal stability, resulting in an economy that suffers from serious macroeconomic imbalances - including a steep inflation rate and an official exchange rate that overvalues the Burmese kyat by more than 1 |
| 2004 | Burma is a resource-rich country that suffers from government controls and abject rural poverty. The military regime took steps in the early 1990s to liberalize the economy after decades of failure under the "Burmese Way to Socialism", but those efforts have since stalled. Burma has been unable to achieve monetary or fiscal stability, resulting in an economy that suffers from serious macroeconomic imbalances - including a steep inflation rate and an official exchange rate that overvalues the Bur |
| 2005 | Burma is a resource-rich country that suffers from government controls, inefficient economic policies, and abject rural poverty. The junta took steps in the early 1990s to liberalize the economy after decades of failure under the "Burmese Way to Socialism", but those efforts have since stalled and some of the liberalization measures have been rescinded. Burma has been unable to achieve monetary or fiscal stability, resulting in an economy that suffers from serious macroeconomic imbalances - incl |
| 2006 | Burma, a resource-rich country, suffers from pervasive government controls, inefficient economic policies, and rural poverty. The junta took steps in the early 1990s to liberalize the economy after decades of failure under the "Burmese Way to Socialism," but those efforts stalled, and some of the liberalization measures were rescinded. Burma does not have monetary or fiscal stability, so the economy suffers from serious macroeconomic imbalances - including inflation, multiple official exchange r |
| 2007 | Burma, a resource-rich country, suffers from pervasive government controls, inefficient economic policies, and rural poverty. The junta took steps in the early 1990s to liberalize the economy after decades of failure under the "Burmese Way to Socialism," but those efforts stalled, and some of the liberalization measures were rescinded. Lacking monetary or fiscal stability, the economy suffers from serious macroeconomic imbalances - including rising inflation, fiscal deficits, multiple official e |
| 2008 | Burma, a resource-rich country, suffers from pervasive government controls, inefficient economic policies, and rural poverty. The junta took steps in the early 1990s to liberalize the economy after decades of failure under the "Burmese Way to Socialism," but those efforts stalled, and some of the liberalization measures were rescinded. Despite Burma's increasing oil and gas revenue, socio-economic conditions have deteriorated due to the regime's mismanagement of the economy. Lacking monetary or |
| 2009 | Burma, a resource-rich country, suffers from pervasive government controls, inefficient economic policies, and rural poverty. Despite Burma's increasing oil and gas revenue, socio-economic conditions have deteriorated because of the regime's mismanagement of the economy. The economy suffers from serious macroeconomic imbalances - including rising inflation, fiscal deficits, multiple official exchange rates that overvalue the Burmese kyat, a distorted interest rate regime, unreliable statistics, |
| 2010 | Burma, a resource-rich country, suffers from pervasive government controls, inefficient economic policies, corruption, and rural poverty. Despite Burma's emergence as a natural gas exporter, socio-economic conditions have deteriorated under the regime's mismanagement, leaving most of the public in poverty, while military leaders and their business cronies exploit the country's ample natural resources. The economy suffers from serious macroeconomic imbalances - including rising inflation, fiscal |
| 2011 | Burma, a resource-rich country, suffers from pervasive government controls, inefficient economic policies, corruption, and rural poverty. Despite Burma's emergence as a natural gas exporter, socio-economic conditions have deteriorated under the regime's mismanagement, leaving most of the public in poverty, while military leaders and their business cronies exploit the country's ample natural resources. The transfer of state assets, especially real estate, to cronies and military families in 2010 |
| 2012 | Burma, a resource-rich country, suffers from pervasive government controls, inefficient economic policies, corruption, and rural poverty. Despite Burma's emergence as a natural gas exporter, socio-economic conditions have deteriorated under the mismanagement of the previous regime. Approximately 32% of the population lives in poverty and Burma is the poorest country in Southeast Asia. The business climate is widely perceived as opaque, corrupt, and highly inefficient. Wealth from country's ample |
| 2013 | Burma is a resource-rich country but still suffers from pervasive government controls, inefficient economic policies, corruption, and rural poverty. Burma is the poorest country in Southeast Asia; approximately 32% of the population lives in poverty. Corruption is prevalent and significant resources in the extractive industries are concentrated in a few hands. The Burmese government has initiated notable economic reforms. In October 2011, 11 private banks were allowed to trade foreign currency. |
| 2014 | Since the transition to a civilian government in 2011, Burma has begun an economic overhaul aimed at attracting foreign investment and reintegrating into the global economy. Economic reforms have included establishing a managed float of the Burmese kyat in 2012, granting the Central Bank operational independence in July 2013, and enacting a new Anti-corruption Law in September 2013. The government’s commitment to reform, and the subsequent easing of most Western sanctions, has begun to pay divid |
| 2015 | Since the transition to a civilian government in 2011, Burma has begun an economic overhaul aimed at attracting foreign investment and reintegrating into the global economy. Economic reforms have included establishing a managed float of the Burmese kyat in 2012, re-writing the Foreign Investment Law in 2012 to allow more foreign investment participation, granting the Central Bank operational independence in July 2013, enacting a new Anti-corruption Law in September 2013, and authorizing a small |
| 2016 | Since the transition to a civilian government in 2011, Burma has begun an economic overhaul aimed at attracting foreign investment and reintegrating into the global economy. Economic reforms have included establishing a managed float of the Burmese kyat in 2012, re-writing the Foreign Investment Law in 2012 to allow more foreign investment participation, granting the Central Bank operational independence in July 2013, enacting a new Anti-corruption Law in September 2013, and granting licenses to |
| 2017 | Since the transition to a civilian government in 2011, Burma has begun an economic overhaul aimed at attracting foreign investment and reintegrating into the global economy. Economic reforms have included establishing a managed float of the Burmese kyat in 2012, granting the Central Bank operational independence in July 2013, enacting a new anti-corruption law in September 2013, and granting licenses to nine foreign banks in 2014 and four more foreign banks in 2016. State Counselor AUNG SAN SUU |
| 2018 | Since Burma began the transition to a civilian-led government in 2011, the country initiated economic reforms aimed at attracting foreign investment and reintegrating into the global economy. Burma established a managed float of the Burmese kyat in 2012, granted the Central Bank operational independence in July 2013, enacted a new anti-corruption law in September 2013, and granted licenses to 13 foreign banks in 2014-16. State Counsellor AUNG SAN SUU KYI and the ruling National League for Democr |
| 2019 | Since Burma began the transition to a civilian-led government in 2011, the country initiated economic reforms aimed at attracting foreign investment and reintegrating into the global economy. Burma established a managed float of the Burmese kyat in 2012, granted the Central Bank operational independence in July 2013, enacted a new anti-corruption law in September 2013, and granted licenses to 13 foreign banks in 2014-16. State Counsellor AUNG SAN SUU KYI and the ruling National League for Democr |
| 2020 | Since Burma began the transition to a civilian-led government in 2011, the country initiated economic reforms aimed at attracting foreign investment and reintegrating into the global economy. Burma established a managed float of the Burmese kyat in 2012, granted the Central Bank operational independence in July 2013, enacted a new anti-corruption law in September 2013, and granted licenses to 13 foreign banks in 2014-16. State Counsellor AUNG SAN SUU KYI and the ruling National League for Democr |
| 2021 | Since Burma began the transition to a civilian-led government in 2011, the country initiated economic reforms aimed at attracting foreign investment and reintegrating into the global economy. Burma established a managed float of the Burmese kyat in 2012, granted the Central Bank operational independence in July 2013, enacted a new anti-corruption law in September 2013, and granted licenses to 13 foreign banks in 2014-16. State Counsellor AUNG SAN SUU KYI and the ruling National League for Democr |
| 2022 | Since Burma began the transition to a civilian-led government in 2011, the country initiated economic reforms aimed at attracting foreign investment and reintegrating into the global economy. Burma established a managed float of the Burmese kyat in 2012, granted the Central Bank operational independence in July 2013, enacted a new anti-corruption law in September 2013, and granted licenses to 13 foreign banks in 2014-16. State Counsellor AUNG SAN SUU KYI and the ruling National League for Democr |
| 2023 | slowly recovering Southeast Asian economy; household incomes weaken domestic consumption; growing trade deficit; declining employment; high inflation and reduced currency power; agriculture sector remains most stable |
| 2024 | slowly recovering Southeast Asian economy; household incomes weaken domestic consumption; growing trade deficit; declining employment; high inflation and reduced currency power; agriculture sector remains most stable |
| 2025 | slowly recovering Southeast Asian economy; household incomes weaken domestic consumption; growing trade deficit; declining employment; high inflation and reduced currency power; agriculture sector remains most stable |