The Republic of the Union of Myanmar (formerly known as Burma) is located in the Bay of Bengal and the Andaman Sea in South East Asia. It shares borders with China, Thailand, India, Laos, and Bangladesh.
Having around 40% of the world’s over 7 billion population as direct neighbours – and its own population of over 60 million with a land area of 676,577 sq metres – Myanmar has high potential for rapid growth and development.
This largely ‘untapped’ potential offers particularly exciting opportunities, because of the rich natural resources, abundant labour force, very low crime rate and the strategic location of Myanmar. With EU Sanctions for normal commercial trading having been removed – and USA Sanctions suspended – normal trade has now become very active.
Myanmar is very progressively embracing a wide range of social and economic reforms. Including free press, an open-market-economy ethos, and actual practice.
The Myanmar Government is inviting, facilitating and promoting trade and foreign direct investment (FDI); while simultaneously rapidly removing residual structural legacy impediments to growth.
Among the many positive developments being strongly advanced, are the establishment of new physical and social infrastructure, legal and institutional frameworks. All as evidenced by the recent opening up of the banking, financial services and telecom sectors, to international players; such as Visa, Mastercard and Coca Cola etc.
|Population||51.4 million (2014 Census)|
|Median Age||27.2 years|
|Urbanization (2010 estimate)||34%|
|Government||Unitary presidential constitutional republic|
|Major Religion||Buddhist: 89%; Christian: 4%;Muslim:4%;|
|Other Major Cities||Yangon, Mandalay, Mawlamyaing|
|Main Sea Ports||Yangon, Thilawa, Dawei|
Economic Indicators (2011- 2012, unless otherwise stated)
|GDP Size (2011 estimate current prices)||US$51.9 billion|
|GDP Growth 11-12 (constant prices)||5.5%|
|GDP per Capita (2011)||US$832|
|Total Export Volume (2012 Estimate)||US$9.9 billion (YoY Δ10%)|
|Import Volume (2012 Estimate)||US$10.1 billion (YoY Δ24%)|
|Wage Earners Remittance (2006)||5%|
|External Debt||US$7.8 billion (81% long-term)|
|Foreign Currency Reserve||US$7.9 billion|
|Sovereign Rating||Not rated|
|Labour Force||32.5 million|