Examination of trends from 200405 to 2015, and part 2. Growth in myanmar economy likely to moderate in 201516, says. Since the reopening of the myanmar economy in 2011, the country has undergone significant. Nov 20, 2019 the statistic shows the growth in real gdp in myanmar, also known as burma, from 2014 to 2018, with projections up until 2024. Potential refugee return in eastern myanmar 2015 this scoping paper explores local protection concerns, plans, and aspirations in connection with a possible return of refugees and displaced in eastern myanmar.
The economy is feeling the effects of the covid19 pandemic, which is hammering trade, tourism and manufacturing. Economic indicators for myanmar including actual values, historical data charts, an economic calendar, timeseries statistics, business news, long term forecasts and shortterm predictions for myanmar economy. Per capita gdp growth for myanmar is expected at 5. In 2018, myanmars real gross domestic product grew by around 6.
Listed below, please find several l2gp papers and studies relevant to burmamyanmar. Why the myanmar economy is slowing, and how it could. Myanmar may for a long time remain in a transitional state with an uncertain future. Meb will be the forum for high quality research on myanmars economy and its. Potential refugee return in eastern myanmar 2015 this scoping paper explores local protection concerns, plans, and aspirations in connection with a possible return of refugees and displaced in. The myanmar economy its past, present and prospects konosuke. The myanmar sustainable development plan msdp is the expression of our national development vision a vision that finds resonance in the global sustainable development agenda. While exports will be exposed to the risk that myanmars preferential access to the european single market could be revoked in response to the rohingya crisis, they will benefit from increased trade with china. Smes are integral to the economic growth of myanmar. Myanmar gross domestic product gdp growth rate 2014. Inflation in myanmar dropped to a fiveyear low in 2017, settling at 4.
The world bank expected economic growth in burma to decrease from 7. Pathways and prospects pdf 47kb hank lim, yasuhiro yamada. These changes have placed modernday myanmar back on the international investment radar and have seen the. Operating conditions in the manufacturing sector deteriorated at a steepest pace on record in march, on the back of the strongest drops in output, new orders and inventories since records began. This site aims to track and summarise the latest news, publications and events to do with the development of myanmars economy. Burmas business development prospects in 2015 are forecast to be mixed as the country grapples with a variety of problems ranging from domestic political uncertainty to outside economic influences beyond its control. Currently, myanmar has myriad sectoral, ministerial and subnational plans.
The statistic shows gross domestic product gdp in myanmar, also known as burma, from 2004 to 2019, with projections up until 2021. She now acts as state counsellor and leader of the nld, which won an absolute parliamentary majority in 2015. Over the past few years myanmar has experienced a number of dramatic transitions that have restructured its economy, rapidly changing its unique landscape and gradually enriching the social welfare of its people. Economies are ranked on their ease of doing business. The law with 14 chapters carries the provisions that clarify business and the role of business association to human resource development and technology. A political economy analysis kristian stokke, roman vakulchuk, indra overland report commissioned by the norwegian ministry of foreign affairs. A worker dyes textiles at the weaving factory in meiktila in central myanmar. The topic sme stakeholders cover farmers, growers, producers, wholesalers, retailers, those who transport these produce and products and the ones who. Doing business 2015 is the 12th edition in a series of annual reports measuring the regulations that enhance business activity and those that constrain it. The oecd open government report of myanmar was prepared by the oecd in collaboration with the government of the republic of the union of myanmar. A more detailed list of actions is expected imminently. Myanmar exchange rate the economy is feeling the effects of the covid19 pandemic, which is hammering trade, tourism and manufacturing. Apr 24, 2015 myanmar is targeting economic growth of 9.
Types of country approaches to increasing user takeup. Growth in myanmar economy likely to moderate in 201516. Table 1 shows that the income gap between seven regions, where burmese people mostly live, and seven states, where ethnic minorities mainly live. Myanmar has been transitioning to a more open and marketoriented economy over the past few years. Public consumption and private investment driving growth p. Jul 25, 2017 myanmars fiscal deficit has ballooned to 4. Information and communication technologies are transforming the ways social interactions and personal relationships are conducted, with fixed, mobile and broadcast networks converging.
Myanmar is bordered by bangladesh and india to its northwest, china to its northeast, laos and thailand to its east and southeast, and the andaman sea and the bay of. The second meeting of the working committee to address the impact of covid19 on the countrys economy was held at the ministry of investment and foreign economic relations in nay pyi taw yesterday. If current productivity and demographic trends hold, myanmars economy may grow by less than 4 percent a year. Manufacturing key to myanmars growth the myanmar times. Every law needs enforcement and should be monitored for practical implementation to address issues in the real situations. A study by the mckinsey global institute mgi, our business and economics research arm. Infant mortality rates in myanmar in comparison with regional peers, 20002015. Chan tha meiktila small and mediumsized enterprises smes play an important role in the countrys economic development and are pioneers in creative entrepreneurships which can better adapt to the changing market demands more than larger businesses. The digital economy now permeates countless aspects of the world economy, impacting sectors as varied as banking, retail, energy, transportation, education, publishing, media or health.
Myanmar global economic prospects examines trends for the world economy and how they affect developing countries. Distribution of seats in the union parliament after the 2015 elections. Finance minister predicts take off for myanmar economy. Please do pass on suggestions for additional content. After a series of political and economic liberalization reforms from 2011 onwards, myanmars political. The myanmar economy at the end of the 201112 fiscal year. Table ogp eligibility criteria and summary of myanmars current score. The economy could enter a virtuous circle of reforms and growth, and myanmars future would become decidedly more promising. Myanmar has developed small and medium enterprises development law 2015. Why the myanmar economy is slowing, and how it could bounce. Smes are integral to the economic growth of myanmar global. Advantages for smes in the economy global new light of myanmar. Economic indicators for myanmar including actual values, historical data, and latest data updates for the myanmar economy. While progress has been made throughout the economy, manufacturing has witnessed rapid expansion, accounting for 15 percent of gdp in 2007 but growing to 24pc in 2017.
The statistic shows the growth in real gdp in myanmar, also known as burma, from 2014 to 2018, with projections up until 2024. Prospects and problems for myanmars economic growth. Burmese kiat exchange rate usd to mmk myanmar economy. Myanmar has one of the fastestgrowing economies in southeast asia, with average economic growth of 7. Gdp growth since start of transition, myanmar and comparators. Myanmar economy watch updates on the development of the. Myanmar gross domestic product gdp 20042021 statista. A negative legacy for the new government pdf 274kb koji kubo. The projected increase in the fiscal deficit in the fy 2015 16 budget will provide an expansionary stimulus and contribute to strong credit. Tough choices 1 overview we must turn to national industrialization to transform the country into a developed, rich one with a lot of em. Seeking high and balanced development toshihiro kudo1 and satoru kumagai 2 the myanmar government seeks higher and balanced economic growth.
But that could increase to 8 percent if the country diversified its economy and more than doubled its laborproductivity growtha difficult but not unprecedented feat. Over 90 per cent of all business in myanmar is classified as small and medium sized enterprises, and the government has recognized that smes are main driver for the countrys future national economic development. Working committee meets to address the impact of covid19. In 2018, myanmar s real gross domestic product grew by around 6. The report includes countryspecific threeyear forecasts for major macroeconomic indicators, including commodity and financial markets. Myanmar statistics, rankings, news us news best countries. The second of these is most relevant for understanding the nature of poverty in the country today actually 2015, whilst the first focuses on methodological issues and recent trends. This will include a focus on the private sector, government policy and the third sector. Macroeconomic trends in myanmar myanmar economy watch. Access the latest politics analysis and economic growth summary through 2011 for myanmar from the economist intelligence unit.
The share of growth attributable to the manufacturing sector will thus continue to increase, mainly due to external demand. Myanmar economy gdp, inflation, cpi and interest rate. Economic reforms have supported consumer and investor confidence despite ongoing business environment and sociopolitical challenges. This paper presents broad outlines of a reform strategy to. Country overview 90 appendix major deals in the past three years. This page has economic forecasts for myanmar including a longterm outlook for the next decades, plus mediumterm expectations for the next four quarters and shortterm market predictions for the next release affecting the myanmar economy. The government of myanmars 12point economic policy statement 2016 gives a broad overview of the direction the nld wants to take with the economy. Highlights english highlights myanmar download report english sections in this edition. A comprehensive collection of socioeconomic maps and data, covering the themes of. The projected increase in the fiscal deficit in the fy 201516 budget will provide an expansionary stimulus and contribute to strong credit. The myanmar economy is set for strong growth this year amid signs of overheating.
Myanmar is bordered by bangladesh and india to its northwest, china to its northeast, laos and thailand to its east and southeast, and the andaman sea and the bay of bengal to its south and southwest. Developing myanmars finance sector to support rapid, inclusive, and sustainable economic growth the financial sector is the lifeblood of any economy and its smooth and efficient functioning is central to strong economic growth and development. Developing myanmars finance sector to support rapid. Economy economic indicators for myanmar gdp growth for myanmar will likely slow significantly to 4. This economy profile for doing business 2015 presents the 11 doing business indicators for myanmar. It was drafted from july to november 20, based on extensive desk research and interviews with representatives of all relevant public.
If you dont want to wait have a look at our ebook offers and start reading immediately. The meeting was chaired by u thaung tun, union minister for investment and foreign economic relations. To allow for useful comparison, the profile also provides data for other selected economies comparator economies for each indicator. Myanmar economy, politics and gdp growth summary the. The political economy of myanmars transition lee jones school of politics and international relations, queen mary, university of london, london, uk abstract since holding elections in 2010, myanmar has transitioned from a direct military dictatorship to a formally democratic system and has embarked on a period of rapid economic reform. Singapore, october 5, 2015east asia remains one of the main growth drivers of the world. The world bank has recently published the myanmar poverty assessment 2017 via two reports.