Current Account in Myanmar
Myanmar - Current AccountFollowing a projected sharp contraction in FY 2021 (October 2020–September 2021), economic conditions have seemingly improved somewhat in FY 2022 (October 2021–September 2022). Merchandise exports expanded uninterruptedly from October 2021 to February 2022. Moreover, after reaching a low point in March 2021, the manufacturing PMI improved and averaged higher from October 2021 to May 2022 compared to last fiscal year. That said, economic sanctions, currency controls and power shortages have continued to depress the economy. Against this backdrop, the World Bank recently declined to issue growth forecasts for fiscal year 2021 and beyond, citing significant uncertainty. Meanwhile, in late May, the Central Bank ordered state agencies not to use foreign currencies in a bid to support the local currency. More positively, Myanmar and Cambodia are strengthening trade ties.
Myanmar - Current Account Data
|Current Account (% of GDP)||-3.4||-4.2||-6.5||-4.2||-2.0|
5 years of economic forecasts for more than 30 economic indicators.
Myanmar Current Account Chart
|Bond Yield||16.00||0.0 %||Oct 15|
|Exchange Rate||1,476||0.0 %||Jan 01|
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