Myanmar (formerly Burma) is a Southeast Asian nation of more than 100 ethnic groups, bordering India, Bangladesh, China, Laos and Thailand. Yangon, the country’s largest city, is home to bustling markets, numerous parks and lakes, and the towering, gilded Shwedagon Pagoda, which contains Buddhist relics and dates to the 6th century.
The country is very rich in natural resources, such as jade, gems, oil, natural gas, teak and other minerals, as well as also endowed with renewable energy, having the highest solar power potential compared to other countries of the Great Mekong Subregion. However, Myanmar has long suffered from instability, factional violence, corruption, poor infrastructure.
Myanmar have abundant in commodities and 25% of population under 14.
Key FDI’s Sectors in 2022
- Oil & Gas
- Electricity Production
- Manufacturing
Myanmar is a member of the East Asia Summit, Non-Aligned Movement, ASEAN, and BIMSTEC, but it is not a member of the Commonwealth of Nations despite once being part of the British Empire. Myanmar is a Dialogue Partner of the Shanghai Cooperation Organization.
The income gap in Myanmar is among the widest in the world, as a large proportion of the economy is controlled by cronies of the military junta.
The United States has imposed Sanctions on Myanmar’s defense ministry and two banks used by the military regime to buy arms and other goods from foreign sources.
2022 MYANMAR IN BRIEF
Total population = 54.2 million
GDP = USD 73 billion
GDP per Capita = USD 1,361
GDP Growth = -1.5%
Trade Balance = USD 0.9 billion
Minimum Wage = 4800 MMK/day
Top 10 Export
Total Value = USD 17.09 billion
COUNTRY/REGION
- Thailand (22.5%)
- China (21.6%)
- EU (21.6%)
- Japan (7.1%)
- India (5.3%)
- USA (4.5%)
- Germany (4.0%)
- United Kingdom (3.6%)
- Spain (3.6%)
- Netherlands (3.2%)
PRODUCT
1. Petroleum gases (23.0%)
2. Dried leguminous vegetables (8.6%)
3. Rice (4.8%)
4. Men’s suits, jackets, blazers, trousers, not knitted (4.0%)
5. Women’s overcoats, car-coats, capes (4.0%)
6. Women’s suits, jackets, blazers, dresses not knitted (3.9%)
7. Maize (corn) (3.9%)
8. Jerseys, pullovers, cardigans, waist-coats, knitted (3.6%)
9. Men’s overcoats, (2.9%)
10. Women’s suits, jackets, blazers, dresses, skirts, divided skirts, trousers, knitted (2.3%)
Top 10 Import
Total Value = USD 17.40 billion
COUNTRY/REGION
1. China (32.0%)
2. Singapore (24.8%)
3. Thailand (12.4%)
4. Malaysia (6.6%)
5. Indonesia (6.0%)
6. India (3.2%)
7. Vietnam (2.3%)
8. Japan (1.6%)
9. South Korea (1.6%)
10. United Arab Emirates (1.0%)
PRODUCT
1. Petroleum oils and oils from bituminous minerals, not crude (28.0%)
2. Palm oil and its fractions (3.9%)
3. Woven fabrics of synthetic staple fibers (3.0%)
4. Woven fabrics of synthetic filament yarn (2.7%)
5. Light-vessels, fire-floats, dredgers, floating cranes and other vessels (2.6%)
6. Mineral or chemical fertilizers (2.5%)
7. Medicaments (2.4%)
8. Food preparations (1.9%)
9. Flat-rolled products of iron or non-alloy steel (1.5%)
10. Oil-cake and other solid residues (1.1%)