Economy of Myanmar

Economy of Myanmar
Yangon, the financial center of Myanmar
CurrencyMyanmar Kyat (MMK)
1 October– 30 September
Trade organisations
WTO, ASEAN, BIMSTEC, RCEP, G77, AFTA, ADB and others
Country group
Statistics
PopulationIncrease 54,617,807 (2024 est.)[3]
GDP
GDP rank
GDP growth
  • Increase 1.97% (2022)
  • Increase 2.58% (2023f)
  • Increase 2.64% (2024f)[5]
All values, unless otherwise stated, are in US dollars.


The economy of Myanmar is the seventh largest in Southeast Asia.[6] After the return of civilian rule in 2011, the new government launched large-scale reforms, focused initially on the political system to restore peace and achieve national unity and moving quickly to an economic and social reform program.[7] Current economic statistics were a huge decline from the economic statistics of Myanmar in the fiscal year of 2020, in which Myanmar’s nominal GDP was $81.26 billion and its purchasing power adjusted GDP was $279.14 billion.[6] Myanmar has faced an economic crisis since the 2021 coup d'état.

  1. ^ "Asian Development Bank and Myanmar: Economy". ADB.org. Asian Development Bank. 10 August 2022. Archived from the original on 26 March 2024. Retrieved 26 March 2024.
  2. ^ "World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Archived from the original on 28 October 2019. Retrieved 6 March 2020.
  3. ^ "Archived copy". Archived from the original on 15 February 2024. Retrieved 16 February 2024.{{cite web}}: CS1 maint: archived copy as title (link)
  4. ^ a b "World Economic Outlook Database: January 2024". International Monetary Fund. 1 January 2024. Archived from the original on 15 February 2024. Retrieved 1 January 2024.
  5. ^ "World Economic Outlook Database, October 2023". International Monetary Fund. Archived from the original on 2 November 2023. Retrieved 22 October 2023.
  6. ^ a b "WORLD ECONOMIC OUTLOOK". IMF. Archived from the original on 28 April 2023. Retrieved 28 April 2023.
  7. ^ "Myanmar: Unlocking the Potential". Asian Development Bank. August 2014. Archived from the original on 30 October 2023. Retrieved 22 October 2023.