in 1988 and subsequently ignored the results of the 1990 election. A
crisis in the private banking sector in early 2003 followed by
economic moves against Burma by the United States, the European
Union, and Japan - including a US ban on imports from Burma and a
Japanese freeze on new bilateral economic aid - further weakened the
Burmese economy. Burma is data poor, and official statistics are
often dated and inaccurate. Published estimates of Burma's foreign
trade are greatly understated because of the size of the black
market and border trade - often estimated to be one to two times the
official economy. Better relations with foreign countries and
relaxed controls at home are needed to promote foreign investment,
exports, and tourism. In February 2003, a major banking crisis hit
the country's 20 private banks, shutting them down and disrupting
the economy. In July and August 2003, the United States imposed a
ban on all Burmese imports and a ban on provision of financial
services, hampering Burma's ability to obtain foreign exchange. As
of January 2004, the largest private banks remained moribund,
leaving the private sector with little formal access to credit
outside of government contracts.

GDP:
purchasing power parity - $74.53 billion (2003 est.)

GDP - real growth rate:
-0.5% (2003 est.)

GDP - per capita:
purchasing power parity - $1,800 (2003 est.)

GDP - composition by sector:
agriculture: 57.2%
industry: 9.6%
services: 33.1% (2003 est.)

Investment (gross fixed):
11.8% of GDP (2003)

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):
49.7% (2003 est.)

Labor force:
22.14 million (2003 est.)

Labor force - by occupation:
agriculture 70%, industry 7%, services 23% (2001 est.)

Unemployment rate:
4.2% (2003)

Budget:
revenues: $7.9 billion
expenditures: $12.2 billion, including capital expenditures of $5.7
billion (FY96/97)

Agriculture - products:
rice, pulses, beans, sesame, groundnuts, sugarcane; hardwood; fish
and fish products

Industries:
agricultural processing; knit and woven apparel; wood and wood
products; copper, tin, tungsten, iron; construction materials;
pharmaceuticals; fertilizer; cement

Industrial production growth rate:
NA

Electricity - production: