Myanmar Gdp StatisticsBurma GDP statistics
Economic profile of Myanmar.
Burma GDP, 1980
Myanmar's GDP in 2017 was usd 66.54 billion. Myanmar's GDP grew from $7.44 billion in 1998 to $66.54 billion in 2017 with an AAGR of 13.90%. The GDP at buyer price is the total value added of all economically based manufacturers plus any applicable production tax and less any subsidy not contained in the value of the goods.
They are computed without deduction for the amortisation of completed goods or for the exhaustion and extraction of physical ressources. The figures are in US dollar.
Goverment fixes 7 per cent GDP increase goal
This year, the federal budget has fixed the country's economic expansion goal at 7 per cent, in accordance with the National Plan for the 2017-18 year. Myanmar's Minister of Planning and Finance, U Kyaw Win, noted that Myanmar's business community is prepared to take off within 2017 like an airplane taking off from the airstrip.
Under the auspices of the Ministry of Planning and Finance, U Tun Tun Tun Naing, Deputy Minister of Finance, said the management is speeding up the pace of local economies with the implementation of the country's legislative-laws. For the second, third and fourth years of the reign headed by the NLDD, the time will be when the reigning governments, the state and the privat sector will make every effort to help the country's economies expand, U Tun Tun Tun Naing said.
"First year of the change of regime must concentrate on the continuation of the former regime, and last year will be divided between the time of the regime preparing for the next elections. "Therefore, the mid three years are crucial for the administration to make all efforts, and the secretary is determined to help the business community to start," he added.
Myanmar's GDP grew at a slower pace of 6.5% in 2016-2017, down from 7.3% a year earlier. According to statistics from the Ministry of Planning and Finance, the pace of economic expansion slackened in the first half of the 2016-17 financial year, due in part to declining export volumes and low raw materialprice.
In accordance with the laws of the 2017-18 budget year, the federal budget expects GDP to increase by 7.0%. U Tun Tun Tun Naing stated that the country roadmap is drawn up taking into consideration and a combination of sector and region roadmaps. "GDP is forecast to increase to four. Mr. Bangemann added that since Myanmar's economic base is mainly farming, the Myanmar authorities have given priority to reforming the entire farm delivery network.
"Now we are making provisions to grant farm credits to growers in collaboration between Myanmar Agriculture Development Bank, Myanma Business Bank and retail bank. It will assist small and medium-sized enterprises (SMEs) in promoting exports and substituting imports. Myanmar's business opportunities remain very attractive to the outside and within ASEAN, Simon Tay, chairman of the Myanmar Times, said in an interview with ASEAN.
"We have many grounds for optimism for Myanmar in the mid and long run. "However, when there is a transition, there is always a search for consistency, not only in politics, but also in the way things are done and who is really in the game. "Myanmar is undergoing not only a regime shift, but a very historical one.
"It' not only the reign, but also the system shift. "In a way, there is every justification to think long and to be tolerant in the near term," he said. "the global economic situation is not good in the near future. Burma is not bad in comparison to the remainder of the world," Mr Tay said.
"Sean Turnell and other members of the administration said at the workshop we had that they have solved a number of problems and that the business world is developing more or will soon take off. "I can say, however, that most of us are very positive about Myanmar in the long run.