sions

:Burma Economy

Overview:
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 agricultural sector, which
generates about 40% of GDP and provides employment for 65% of the work
force. Burma has been largely isolated from international economic forces
and has been trying to encourage foreign investment, so far with little
success.
GDP:
exchange rate conversion - $22.2 billion, per capita $530; real growth rate
5.6% (1991)
Inflation rate (consumer prices):
40% (1991)
Unemployment rate:
9.6% in urban areas (FY89 est.)
Budget:
revenues $7.2 billion; expenditures $9.3 billion, including capital
expenditures of $6 billion (1991)
Exports:
$568 million
commodities:
teak, rice, oilseed, metals, rubber, gems
partners:
Southeast Asia, India, Japan, China, EC, Africa
Imports:
$1.16 billion
commodities:
machinery, transport equipment, chemicals, food products
partners:
Japan, EC, China, Southeast Asia
External debt:
$4.2 billion (1991)
Industrial production:
growth rate 2.6% (FY90 est.); accounts for 10% of GDP
Electricity:
950,000 kW capacity; 2,900 million kWh produced, 70 kWh per capita (1990)
Industries:
agricultural processing; textiles and footwear; wood and wood products;
petroleum refining; mining of copper, tin, tungsten, iron; construction
materials; pharmaceuticals; fertilizer
Agriculture:
accounts for 40% of GDP (including fish and forestry); self-sufficient in
food; principal crops - paddy rice, corn, oilseed, sugarcane, pulses;
world's largest stand of hardwood trees; rice and teak account for 55% of
export revenues; fish catch of 740,000 metric tons (FY90)
Illicit drugs:
world's largest illicit producer of opium poppy and minor producer of
cannabis for the international drug trade; opium production is on the
increase as growers respond to the collapse of Rangoon's antinarcotic
programs
Economic aid: