Myanmar Economic Outlook
October 18, 2016Economic activity in Myanmar could be jeopardized by the heavy rains that hit the agricultural sector again this summer. Nonetheless, other sectors, such as telecommunications and banking, are growing rapidly as the government has started tackling the many hurdles hindering their development. In September alone, the Ministry of Commerce announced the lifting of license requirements for 150 import goods, the first ever sovereign bond auction took place and the Lower House approved a law aimed at facilitating investment. While the business environment is set to improve, the country remains plagued with ethnic and religious conflicts.
Myanmar Economy Data
|GDP per capita (USD)||1,118||1,100||1,112||1,228||-|
|GDP (USD bn)||56.0||55.6||56.7||63.1||-|
|Economic Growth (GDP, annual variation in %)||5.6||7.3||8.4||8.5||-|
|Fiscal Balance (% of GDP)||-4.6||-1.7||-1.8||-2.9||-|
|Public Debt (% of GDP)||49.3||43.1||34.8||31.6||-|
|Inflation Rate (CPI, annual variation in %)||2.8||2.8||5.7||5.9||-|
|Policy Interest Rate (%)||12.00||10.00||10.00||10.00||10.00|
|Exchange Rate (vs USD)||5.56||851.7||983.8||1,031||1,301|
|Exchange Rate (vs USD, aop)||5.44||640.7||933.6||984.4||1,163|
|Current Account (% of GDP)||-1.9||-4.2||-5.2||-6.1||-|
|Current Account Balance (USD bn)||-1.1||-2.3||-3.0||-3.9||-|
|Trade Balance (USD billion)||0.2||-0.3||-0.8||-5.2||-|
|Exports (USD billion)||9.2||8.9||11.2||11.0||-|
|Imports (USD billion)||9.0||9.2||12.0||16.2||-|
|Exports (annual variation in %)||6.7||-3.9||26.5||-1.8||-|
|Imports (annual variation in %)||89.5||1.4||31.6||34.8||-|
|International Reserves (USD)||7.0||7.0||4.5||4.8||-|
|External Debt (% of GDP)||14.6||14.1||12.8||10.1||-|
5 years of Myanmar economic forecasts for more than 30 economic indicators.
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|Bond Yield||13.00||0.0 %||Jul 15|
|Exchange Rate||1,291||0.16 %||Oct 26|
Myanmar Economic Growth
October 18, 2016The efforts of the new administration have not translated into higher macro-economic and political stability this year as fast as had been hoped. For next year, growth will be buttressed by an expansion in non-agricultural sectors. FocusEconomics panelists expect the economy to grow 8.2% in 2016, which is unchanged from last month’s estimate. For 2017, the panel projects broadly stable growth of 8.1%.