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• GDP: US$9.6 billion (2006).
• Main exports: Gas, wood products, agricultural products and marine products.
• Main imports: Fabric, petroleum products, fertiliser, plastics and machinery.
• Main trade partners: Thailand, China (PR), India, Singapore and Japan.
• Main exports: Gas, wood products, agricultural products and marine products.
• Main imports: Fabric, petroleum products, fertiliser, plastics and machinery.
• Main trade partners: Thailand, China (PR), India, Singapore and Japan.
Economy
While rich in resources, Myanmar's development is hindered by its politics. The largest single sector is traditional agriculture, mainly livestock and fishing. Teak wood is the country's other main export (much of it felled and traded illegally).
Myanmar has significant deposits of tin, copper, zinc, gemstones, silver, oil and coal: commercial exploitation provides some income. Further significant sources of revenue include opium trafficking and gemstone mining, both of which are largely controlled by the military government and have been mainly used to finance substantial arms purchases.
There are few reliable economic statistics for Myanmar; the government reports growth as significantly higher than international estimates and understates the black market. However, growth is estimated to have been 3%, unemployment 10.2% and inflation a worrying 20% in 2006.
After years of political isolation, Myanmar became a member of ASEAN in July 1997. However, many potential investors are deterred by the government's appalling human rights record.
Myanmar has significant deposits of tin, copper, zinc, gemstones, silver, oil and coal: commercial exploitation provides some income. Further significant sources of revenue include opium trafficking and gemstone mining, both of which are largely controlled by the military government and have been mainly used to finance substantial arms purchases.
There are few reliable economic statistics for Myanmar; the government reports growth as significantly higher than international estimates and understates the black market. However, growth is estimated to have been 3%, unemployment 10.2% and inflation a worrying 20% in 2006.
After years of political isolation, Myanmar became a member of ASEAN in July 1997. However, many potential investors are deterred by the government's appalling human rights record.
Business Etiquette
Lightweight suits are recommended during the day; jackets are needed for top-level meetings. Most commercial business transactions will be conducted in English. Business cards in Burmese script can be useful. The best time to visit is October to February.
Office hours: Mon-Fri 0930-1630.
Office hours: Mon-Fri 0930-1630.
Business Contacts
There are over 20 government corporations dealing with all aspects of business. The Inspection and Agency Corporation in Yangon promotes business with foreign companies. For further information, contact the commercial section of the embassy (see Contact Addresses).
