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Myanmar's economy in numbers:
Nominal GDP of USD 59.4 billion in 2022.
Nominal GDP of USD 64.8 billion in 2023.
GDP per capita of USD 1,196 compared to the global average of USD 10,589.
GDP per capita of USD 1,102 compared to the global average of USD 10,589.
Average real GDP growth of 4% over the last decade.
Average real GDP growth of 4.4% over the last decade.
Economic structure:
In 2021, services accounted for 41% of overall GDP, manufacturing 25%, other industrial activity 11%, and agriculture 23%. Looking at GDP by expenditure, private consumption accounted for 46% of GDP in 2021, government consumption 20%, fixed investment 31%, and net exports 3%.International trade:
In 2021, manufactured products made up 39% of total merchandise exports, mineral fuels 21%, food 32%, ores and metals 3% and agricultural raw materials 4%, with other categories accounting for 1% of the total. In the same period, manufactured products made up 61% of total merchandise imports, mineral fuels 20%, food 18%, ores and metals 1% and agricultural raw materials 0%, with other goods accounting for 0% of the total. Total exports were worth USD 9 billion in 2021, while total imports were USD 11 billion.Economic growth:
The economy recorded average annual growth of 4.0% in the decade to 2022. To read more about GDP growth in Myanmar, go to our dedicated page.
Fiscal policy:
Myanmar's fiscal deficit averaged 4.0% of GDP in the decade to 2022. Find out more on our dedicated page.
Unemployment:
The unemployment rate averaged 0.9% in the decade to 2020. For more information on Myanmar's unemployment click here.
Inflation:
Inflation averaged 5.8% in the decade to 2021. Go to our Myanmar inflation page for extra insight.
Monetary Policy:
Myanmar's monetary policy rate ended 2022 at 7.00%, down from 10.00% a decade earlier. See our Myanmar monetary policy page for additional details.
Exchange Rate:
From end-2012 to end-2022 the kyat weakened by 59.1% vs the U.S. dollar. For more info on the kyat, click here.
34 indicators covered including both annual and quarterly frequencies.
Consensus Forecasts based on a panel of 9 expert analysts.
Want to get insight on the economic outlook for Myanmar in the coming years? FocusEconomics collects projections out to 2034 on 34 economic indicators for Myanmar from a panel of 9 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Myanmar economy. To download a sample report on the Myanmar's economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page.