|Home :: Trade Leads By Country : Burma|
Myanmar is a very exotic country in southeast asia.It also has a mix of culture and the ethnic groups and its culture, are much influenced by neighboring China, India and Thailand. So one can imagine how a mixture of all these 4 interesting cultures may look like.This country has been known to the world through various names and also this country had many names like Golden Land, Land of Immortality, and also as Land of Gems. It is interesting why they named themselves like that.
Business and Economy
Burma is a country that is very ric in the resources and also a country that suffers from government controls and abject rural poverty.This poverty seems to have taken a toll on the folks of this country therefore hampering their growth prospects and also the warfare that too place has more or less had ravaged the country of all its wealth.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. The exchange rates suffered and also the monetary and fiscal prospects too were hampered.
The major cities of Burma are Mandalay and Rangoon.As it is a very small place the only two goodd and substantially big place as in comparison to the others are Mandalay and Rangoon.
GDP-purchasing power parity - $78.8 billion (2003 est.)
GDP - real growth rate: 5.2% (2003 est.)
GDP - per capita: purchasing power parity - $1,900 (2003 est.)
GDP - composition by sector: agriculture: 60%
services: 31% (2002 est.)
Population below poverty line: 25% (2000 est.)
Household income or consumption by percentage share: lowest 10%: 2.8%
highest 10%: 32.4% (1998)
Inflation rate (consumer prices): 52.8% (2003 est.)
Labor force: 23.7 million (1999 est.)
Labor force - by occupation: agriculture 70%, industry 7%, services 23% (2001 est.)
Unemployment rate: 5.1% (2001 est.)
Budget: revenues: $7.9 billion
expenditures: $12.2 billion, including capital expenditures of $5.7 billion (FY96/97)
Industries: agricultural processing; knit and woven apparel; wood and wood products; copper, tin, tungsten, iron; construction materials; pharmaceuticals; fertilizer; cement
Agriculture - products: rice, pulses, beans, sesame, groundnuts, sugarcane; hardwood; fish and fish products
Exports: $2.434 billion f.o.b. (2003 est.)
Exports - commodities: Clothing, gas, wood products, pulses, beans, fish, rice
Exports - partners: Thailand 31.6%, US 13.1%, India 7.4%, China 4.7% (2002)
Imports: $2.071 billion f.o.b. (2003 est.)
Imports - commodities: Fabric, petroleum products, plastics, machinery, transport equipment, construction materials, crude oil; food products
Imports - partners: China 27%, Singapore 19.6%, Thailand 12.1%, Malaysia 8.9%, South Korea 5.4%, Taiwan 4.9%, Japan 4.3% (2002)
Debt - external: $6.2 billion (2002 est.)
Economic aid - recipient: $127 million (2001 est.)
Currency: kyat (MMK)
Currency code: MMK
Exchange rates: kyats per US dollar - 6.08 (2003), 6.57 (2002), 6.68 (2001), 6.52 (2000), 6.29 (1999), Note: these are official exchange rates; unofficial exchange rates ranged in 2003 from 100 kyat/US dollar to nearly 1000 kyat/US dollar.
Fiscal year: 1 April - 31 March