Myanmar - Economy
How is the economy of Myanmar? Based on the information we have, Myanmar has a 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 . Key agricultural products in this country include: rice, sugarcane, vegetables, beans, maize, groundnuts, fruits, plantains, coconuts, onions (2022).
More about the economy of Myanmar
Labor force 22.884 million (2023 est.)
Industrial production growth rate 1.53% (2023 est.)
Industries agricultural processing; wood and wood products; copper, tin, tungsten, iron; cement, construction materials; pharmaceuticals; fertilizer; oil and natural gas; garments; jade and gems
Population below poverty line 24.8% (2017 est.)
Taxes and other revenues 6.02% (of GDP) (2019 est.)
Fiscal year
Exchange rates
Currency kyats (MMK) per US dollar -
Exchange rates 2020 1,381.619 (2020 est.)
Exchange rates 2019 1,518.255 (2019 est.)
Exchange rates 2018 1,429.808 (2018 est.)
Exchange rates 2017 1,360.359 (2017 est.)
Exchange rates 2016 1,234.87 (2016 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2020 $7.67 billion (2020 est.)
Reserves of foreign exchange and gold 2019 $5.824 billion (2019 est.)
Reserves of foreign exchange and gold 2018 $5.646 billion (2018 est.)
Current account balance
Current account balance 2019 $67.72 million (2019 est.)
Current account balance 2018 -$2.561 billion (2018 est.)
Current account balance 2017 -$4.917 billion (2017 est.)
Public debt
Public debt 2017 33.6% of GDP (2017 est.)
Budget
Revenues $10.945 billion (2019 est.)
Expenditures $10.22 billion (2019 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2023 2.31% of GDP (2023 est.)
Remittances 2022 2.03% of GDP (2022 est.)
Remittances 2021 1.93% of GDP (2021 est.)
Household income
Lowest 10% 3.8% (2017 est.)
Highest 10% 25.5% (2017 est.)
Average household expenditures
On food 56.4% of household expenditures (2022 est.)
On alcohol and tobacco 0.6% of household expenditures (2022 est.)
Imports
Imports 2021 $23.1 billion (2021 est.)
Imports 2019 $17.356 billion (2019 est.)
Imports 2018 $18.664 billion (2018 est.)
Imports (partners) China 45%, Thailand 16%, Singapore 14%, Malaysia 4%, Indonesia 4% (2022)
Comodities Imports force refined petroleum, fabric, synthetic fabric, crude petroleum, fertilizers (2022)
Exports
Imports 2021 $23.1 billion (2021 est.)
Imports 2019 $17.356 billion (2019 est.)
Imports 2018 $18.664 billion (2018 est.)
Exports (partners) China 36%, Thailand 13%, Germany 6%, Japan 6%, US 4% (2022)
Comodities Exports force garments, precious stones, natural gas, dried legumes, rice (2022)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2023 $290.507 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $287.624 billion (2022 est.)
Real GDP (purchasing power parity) 2021 $276.462 billion (2021 est.)
GDP (official exchange rate) $64.815 billion (2023 est.)
Real GDP Per capita
Real GDP per capita 2023 $5,300 (2023 est.)
Real GDP per capita 2022 $5,300 (2022 est.)
Real GDP per capita 2021 $5,100 (2021 est.)
GDP - composition, by sector of origin
Agriculture 20.4% (2023 est.)
Industry 38.1% (2023 est.)
Services 41.5% (2023 est.)
GDP - composition, by end use
Household consumption 59.2% (2017 est.)
Government consumption 13.8% (2017 est.)
Investment in fixed capital 33.5% (2017 est.)
Investment in inventories 1.5% (2017 est.)
Exports of goods and services 21.4% (2017 est.)
Imports of goods and services -28.6% (2017 est.)
Unemployment rate
Unemployment rate 2023 2.84% (2023 est.)
Unemployment rate 2022 2.83% (2022 est.)
Unemployment rate 2021 4.34% (2021 est.)
Youth unemployment rate (ages 15-24)
Total 9.7% (2023 est.)
Male 10.3% (2023 est.)
Female 8.9% (2023 est.)
All Important Facts about Myanmar

Want to know more about Myanmar? Check all different factbooks for Myanmar below.

Myanmar is found in South-Eastern Asia