About Myanmar

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.

Demographic Features

Population 51.4 million (2014 Census)
Official Language Burmese
Literacy Rate 92%
Median Age 27.2 years
Urbanization (2010 estimate) 34%
Government Unitary presidential constitutional republic
Major Religion Buddhist: 89%; Christian: 4%;Muslim:4%;
National Capital Naypyidaw
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