Flag: red with a blue rectangle in the upper hoist-side corner bearing, all in white, 14 five-pointed stars encircling a cogwheel containing a stalk of rice; the 14 stars represent the 14 administrative divisions
- Economy Overview: Burma is one of the poorest countries in Asia, with a per capita GDP of about $280. The government reports negligible growth for FY88. The nation has been unable to achieve any significant improvement in export earnings because of falling prices for many of its major commodity exports. For rice, traditionally the most important export, the drop in world prices has been accompanied by shrinking markets and a smaller volume of sales. In 1985 teak replaced rice as the largest export and continues to hold this position. The economy is heavily dependent on the agricultural sector, which generates about 40% of GDP and provides employment for more than 65% of the work force.
GDP: $11.0 billion, per capita $280; real growth rate 0.2%
(FY88 est.)
Inflation rate (consumer prices): 22.6% (FY89 est.)
Unemployment rate: 10.4% in urban areas (FY87)
Budget: revenues $4.9 billion; expenditures $5.0 billion, including capital expenditures of $0.7 billion (FY89 est.)
Exports: $311 million (f.o.b., FY88 est.) commodities—teak, rice, oilseed, metals, rubber, gems; partners—Southeast Asia, India, China, EC, Africa
Imports: $536 million (c.i.f., FY88 est.) commodities—machinery, transport equipment, chemicals, food products; partners—Japan, EC, CEMA, China, Southeast Asia
External debt: $5.6 billion (December 1989 est.)
Industrial production: growth rate - 1.5% (FY88)