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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]
Myanmar was a rising star in Southeast Asia before its military seized power three years ago in a takeover that has brought civil strife and a tightening vise of international sanctions, undoing ...
Myanmar, once a thriving emerging economy, is struggling to regain momentum as the country’s civil war increasingly disrupts trade and livelihoods. World Bank economists estimate the country's ...
Myanmar is a low-middle income economy that has seen significant improvements towards poverty reduction in the recent decades. Religious conflicts and natural disasters are rendered as political and geographical dangers towards the Myanma economy. [6]
Myanmar's economy is forecast to grow only 1% in the fiscal year that ends in March, the World Bank says, as conditions deteriorate with an escalation in fighting between the military and its ...
Myanmar is today primarily a natural gas producer. As of 2015, Myanmar exports gas to Thailand and China. [3] Myanmar had proven gas reserves of 10 trillion cubic feet in 2012, with an annual production capacity of 416 BcF. [14] Oil reserves in 2013 numbered at 50 million barrels, with a production capacity of 21,000 bbl/d. [14]
The informal economy's share in Myanmar is one of the biggest in the world and is closely linked to corruption, smuggling and illegal trade activities. [271] [272] In addition, decades of civil war and unrest have contributed to Myanmar's current levels of poverty and lack of economic progress. Myanmar lacks adequate infrastructure.
In December, the World Bank had projected Myanmar's economy would grow by around 2% during the current fiscal year, after estimated GDP growth of 1% in the year that ended in March 2024. "The ...