| Economy - overview: | Burma is a resource-rich country that suffers from government controls, inefficient economic policies, and abject rural poverty. The junta took steps in the early 1990s to liberalize the economy after decades of failure under the "Burmese Way to Socialism", but those efforts stalled and some of the liberalization measures were rescinded. Burma has been unable to achieve monetary or fiscal stability, resulting in an economy that suffers from serious macroeconomic imbalances - including inflation, multiple official exchange rates that overvalue the Burmese kyat, and a distorted interest rate regime. Most overseas development assistance ceased after the junta began to suppress the democracy movement in 1988 and subsequently ignored the results of the 1990 legislative elections. Economic sanctions against Burma by the United States - including a ban on imports of Burmese products and a ban on provision of financial services by US persons in response to the government of Burma's attack in May 2003 on AUNG SAN SUU KYI and her convoy - further slowed the inflow of foreign exchange. Oil and gas development will drive growth in the next few years. Other areas, however, are struggling. In February 2003, a major banking crisis hit the country's 20 private banks, shutting them down and disrupting the economy. As of December 2005, the largest private banks remained moribund, leaving the private sector with little formal access to credit. Official statistics are inaccurate. Published statistics on foreign trade are greatly understated because of the size of the black market and unofficial border trade - often estimated to be one to two times the size of the official economy. Burma's trade with Thailand, China, and India is rising. Though the Burmese government has good economic relations with its neighbors, a better investment climate and an improved political situation are needed to promote foreign investment, exports, and tourism. |
| GDP - per capita | $1,800 (2005 est.) |
| GDP - real growth rate (%) | 1.5% (2005 est.) |
| Agriculture - products | rice, pulses, beans, sesame, groundnuts, sugarcane; hardwood; fish and fish products |
| GDP - composition by sector (%) | agriculture: 54.6%, industry: 13%, services: 32.4% (2005 est.) |
| Industries | agricultural processing; knit and woven apparel; wood and wood products; copper, tin, tungsten, iron; construction materials; pharmaceuticals; fertilizer; cement; natural gas |
| Economic aid - recipient | $127 million (2001 est.) |
| Debt - external | $6.967 billion (2005 est.) |
| Population below poverty line (%) | 25% (2000 est.) |
| Labor force - by occupation (%) | agriculture 70%, industry 7%, services 23% (2001 est.) |
Environment, Land use / Resources, Economy, Population / Demographics, Infrastructure, Health -- CIA World Factbook, 2005
