A brief overview of the Myanmar economy
Myanmar is an emerging economy and is classified as a “low income” economy by the World Bank.
In 2019, the country's GDP reached 66 billion US dollars.
GDP per capita is 1 200 US dollars. Agriculture produces from 45 to 57% of GDP.
The main industries: crop production (food crops: rice, bean, corn; technical: jute, cotton, rubber plants); livestock (livestock, poultry).Marine fisheries and fishing has also been developed.
The share of industry and construction in GDP is about 20%.
Main industries are:
♦ extractives industry (oil, natural gas, iron ore, tin, wolfram, zinc, copper, precious stones);
♦ processing industry; refinery: there are two refineries
♦ electric power industry;
♦ construction industry;
♦ light industry;
♦ food industry;
♦ leather and footwear industry;
♦ pharmaceutical industry.
The share of the service sector in GDP is 33–40%.
The main imports are:
♦ machinery and equipment;
♦ oil products;
♦ metals and alloys;
♦ food products.
The most prospective export positions of Belarusian enterprises to Myanmar are:
♦ chemical products (polyamides, fiberglass);
♦ dairy products (skimmed and whole milk powder, milk whey powder, powdered infant formula);
♦ optical measuring instruments and equipment;
♦ pharmaceutical products.
In addition to the trade interests on the Myanmar market, Belarusian companies may be also interested in the development and modernization of the country's transport and logistics infrastructure, participation in railway construction and the development of infrastructure for sea and road transport.