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Economy of Myanmar information


Economy of Myanmar
Yangon, the financial center of Myanmar
CurrencyMyanmar Kyat (MMK)
Fiscal year
1 October– 30 September
Trade organisations
WTO, ASEAN, BIMSTEC, RCEP, G77, AFTA, ADB and others
Country group
  • Developing/Emerging[1]
  • Lower-middle income economy[2]
Statistics
PopulationIncrease 54,510,000 (2024 est.)[3]
GDP
  • Increase $79.27 billion (nominal; 2024 est.) [4]
  • Increase $291.56 billion (PPP; 2024 est.)[4]
GDP rank
  • 86th (nominal, 2023)
  • 63th (PPP, 2023)
GDP growth
  • Increase 1.97% (2022)
  • Increase 2.58% (2023f)
  • Increase 2.64% (2024f)[5]

All values, unless otherwise stated, are in US dollars.

The economy of Myanmar is the seventh largest in Southeast Asia.[6] After the return of civilian rule in 2011, the new government launched large-scale reforms, focused initially on the political system to restore peace and achieve national unity and moving quickly to an economic and social reform program.[7] Current economic statistics were a huge decline from the economic statistics of Myanmar in the fiscal year of 2020, in which Myanmar’s nominal GDP was $81.26 billion and its purchasing power adjusted GDP was $279.14 billion.[6] Myanmar has faced an economic crisis since the 2021 coup d'état.

  1. ^ "Asian Development Bank and Myanmar: Economy". ADB.org. Asian Development Bank.
  2. ^ "World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank.
  3. ^ https://www.imf.org/external/datamapper/LP@WEO/MMR?zoom=MMR&highlight=MMR. Retrieved 16 February 2024. {{cite web}}: Missing or empty |title= (help)
  4. ^ a b "World Economic Outlook Database: January 2024". International Monetary Fund. 1 January 2024. Retrieved 1 January 2024.
  5. ^ "World Economic Outlook Database, October 2023". International Monetary Fund.
  6. ^ a b "WORLD ECONOMIC OUTLOOK". IMF.
  7. ^ "Myanmar: Unlocking the Potential". Asian Development Bank. August 2014.

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