NationMaster - Encyclopedia: Economy of Myanmar

Myanmar has a mixed economy. The private sector dominates in agriculture, light industry, and transport activities. The state controls mainly the energy, heavy industry, and the rice trade. The private sector of a nations economy consists of those entities which are not controlled by the state - i. ... Heavy industry does not have a single fixed meaning compared to light industry. ... Heavy industry does not have a single fixed meaning compared to light industry. ...

Government policy in the 11 years, 1989-99, was aimed at revitalizing the economy within three decades of tight central planning, but recently many of those reforms have been cancelled. This has enabled the private sector to grow. 1989 (MCMLXXXIX) was a common year starting on Sunday of the Gregorian calendar. ... Events Pope Zephyrinus succeeds Pope Victor I Geodeung succeeds Suro as king of the Korean kingdom of Gaya. ...

Though foreign investment has been encouraged, it has so far met with moderate success. This is because foreign investors are not compelled to trust the junta government policies. In modern usage, junta (pronounced as in Spanish HUN-ta or HOON-ta) typically refers to a military dictatorship, especially in Latin America, which is officially run by a committee of high-ranking military officers. ...

The public sector enterprises remain highly inefficient and also privatization efforts have stalled. The estimates of Myanmar's foreign trade are highly ambiguous because of the great volume of black market trading.

A major ongoing problem is the failure to achieve monetary and fiscal stability. Due to this, Myanmar remains a poor Asian country with no improvement of living standards for the majority of the population over the past decade. Moneys is an agreement within a community, to use something as a medium of exchange, which acts as an intermediary market good. ... Fiscal municipality in Huesca, Spain The term fiscal refers to government debt, expenditures and revenues, or to finance (particularly financial revenue) in general. ... The Standard of living refers to the quality and quantity of goods and services available to people. ...

The main causes for continued sluggish growth are : Poor government planning; Internal unrest; Minimal foreign investment; And the large trade deficit. Balance of trade figures are the sum of the money gained by a given economy by selling exports, minus the cost of buying imports. ...

One of the recent government initiatives is to utilise Myanmar's large natural gas deposits. Natural gas, commonly referred to as gas, is a gaseous fossil fuel consisting primarily of methane. ...

Myanmar is the poorest country in the world in terms of GDP per capita. (nominally $97 as in 2005) The United States dollar is the official currency of the United States. ... 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ...

Statistics

GDP: purchasing power parity - $76.2 billion (76.2 G$) (2005 est.) The word billion and its equivalents in other languages refer to one of two different numbers, depending on whether the writer is using the long or short scale. ...

GDP - composition by sector:
agriculture: 54.6%
industry: 13%
services: 32.4% (2005 est.)

Household income or consumption by percentage share:
lowest 10%: 2.8%
highest 10%: 32.4%(1998 est.)

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

Budget:
revenues: 523.5 million
expenditures: 769.3 million, including capital expenditures of $5.7 billion (2005)

Industries: Agricultural Processing Textiles and Footwear Wood and Wood Products Metallurgical industry :- Copper, Tin, Tungsten, Iron Construction Materials Pharmaceuticals Fertilizer industry A tree trunk as found at the Veluwe, The Netherlands Wood derives from woody plants, notably trees but also shrubs. ... General Name, Symbol, Number copper, Cu, 29 Chemical series transition metals Group, Period, Block 11, 4, d Appearance metallic brown Atomic mass 63. ... General Name, Symbol, Number tin, Sn, 50 Chemical series poor metals Group, Period, Block 14, 5, p Appearance silvery lustrous gray Atomic mass 118. ... General Name, Symbol, Number tungsten, W, 74 Chemical series transition metals Group, Period, Block 6, 6, d Appearance grayish white, lustrous Atomic mass 183. ... General Name, Symbol, Number iron, Fe, 26 Chemical series transition metals Group, Period, Block 8, 4, d Appearance lustrous metallic with a grayish tinge Atomic mass 55. ...

Electricity - production by source:
fossil fuel: 61.72%
hydro: 38.28%
nuclear: 0%
other: 0% (1998)

Agriculture - products: paddy rice, maize, oilseed, sugarcane, pulses; hardwood Species Oryza glaberrima Oryza sativa Rice refers to two species (Oryza sativa and Oryza glaberrima) of grass, native to tropical and subtropical southeastern Asia and to Africa, which together provide more than one fifth of the calories consumed by humans. ... Binomial name Zea mays L. Maize (Zea mays ssp. ... Species Saccharum arundinaceum Saccharum bengalense Saccharum edule Saccharum officinarum Saccharum procerum Saccharum ravennae Saccharum robustum Saccharum sinense Saccharum spontaneum Sugarcane or Sugar cane (Saccharum) is a genus of between 6 and 37 species (depending on taxonomic interpretation) of tall grasses (family Poaceae, tribe Andropogoneae), native to warm temperate to tropical... The Food and Agricultural Organisation of the United Nations (FAO) defines pulses as annual leguminous crops yielding from one to 12 grains or seeds of variable size, shape and colour within a pod. ...

Exports - commodities: pulses and beans, prawns, fish, rice; teak, opiates The Food and Agricultural Organisation of the United Nations (FAO) defines pulses as annual leguminous crops yielding from one to 12 grains or seeds of variable size, shape and colour within a pod. ... Green beans Bean is a common name for large plant seeds of several genera of Fabaceae (formerly Leguminosae) used for food or feed. ... Superfamilies Panaeoidea Aristeidae Benthesicymidae Penaeidae Sicyoniidae Solenoceridae Sergestoidea Luciferidae Sergestidae Prawns are edible, shrimp-like crustaceans, belonging to the sub-order Dendrobranchiata. ... Atlantic herring, Clupea harengus: one of the most abundant species of fish in the world. ... Species Oryza glaberrima Oryza sativa Rice refers to two species (Oryza sativa and Oryza glaberrima) of grass, native to tropical and subtropical southeastern Asia and to Africa, which together provide more than one fifth of the calories consumed by humans. ... Species Tectona grandis Tectona hamiltoniana Tectona philippinensis Teak (Tectona), also called jati is a genus of tropical hardwood trees in the family Verbenaceae, native to the south and southeast of Asia, and is commonly found as a component of monsoon forest vegetation. ...

Imports - commodities: machinery, transport equipment, construction materials, food products

Currency: 1 kyat (K) = 100 pyas The kyat (ISO 4217 code MMK) is the official currency of Myanmar. ...

Exchange rates: kyats per US dollar - 5.82 (2005), 5.7459 (2004), 6.0764 (2003), 6.5734 (2002), 6.6841 (2001) note: these are official exchange rates; unofficial exchange rates ranged in 2004 from 815 kyat/US dollar to nearly 970 kyat/US dollar, and by year-end 2005, the unofficial exchange rate was 1,075 kyat/US dollar

Fiscal year: 1 April–31 March April 1 is the 91st day of the year (92nd in leap years) in the Gregorian calendar, with 274 days remaining. ... March 31 is the 90th day of the year in the Gregorian Calendar (91st in Leap years), with 275 days remaining. ...

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