Economy—overview: Burma has a mixed economy with private activity dominant in agriculture, light industry, and transport, and with substantial state-controlled activity, mainly in energy, heavy industry, and the rice trade. Government policy in the last 10 years, 1989-98, has aimed at revitalizing the economy after three decades of tight central planning. Thus, private activity has markedly increased; foreign investment has been encouraged, so far with moderate success; and efforts continue to increase the efficiency of state enterprises. Published estimates of Burma's foreign trade are greatly understated because of the volume of black-market trade. A major ongoing problem is the failure to achieve monetary and fiscal stability. Although Burma remains a poor Asian country, its rich resources furnish the potential for substantial long-term increases in income, exports, and living standards. The short-term outlook is for continued sluggish growth because of internal unrest, minimal foreign investment, and the large trade deficit.
GDP: purchasing power parity—$56.1 billion (1998 est.)
GDP—real growth rate: 1.1% (1998 est.)
GDP—per capita: purchasing power parity?$1,200 (1998 est.)
GDP—composition by sector: agriculture: 59% industry: 11% services: 30% (1997 est.)
Population below poverty line: NA%
Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices): 50% (1998 est.)
Labor force: 18.8 million (FY95/96 est.)
Labor force—by occupation: agriculture 65.2%, industry 14.3%, trade 10.1%, government 6.3%, other 4.1% (FY88/89 est.)