Quarterly Statistics Bulletin , 2019-2020(Q3) ... Investment is an important factor to sustain economic growth. Khine Tun joined the IMF Myanmar Office in January 2014. GDP of Myanmar increased from 7.17 billion US dollars in 2001 to 70.89 billion US dollars in 2020 growing at an average annual rate of 13.64%. Myanmar gdp growth rate for 2016 was 5.75%, a 1.24% decline from 2015. 1994-2020 Data | 2021-2023 Forecast | Historical. Myanmar Economic Outlook. Myanmar Coronavirus Cases at 141984.00 Persons, Myanmar Coronavirus Deaths at 3200.00 Persons, Myanmar Coronavirus Recovered at 131571.00 Persons, Deposit Interest Rate in Myanmar at 8.00 percent, Myanmar Average Precipitation at 18.73 mm, Myanmar Average Temperature at 19.32 celsius, Myanmar Balance of Trade at 8.20 USD Million, Myanmar Cpi Housing Utilities at 201.57 points, Italy Retail Sales Drop 3% MoM in January, Non Farm Payrolls Seen at 3-Month High of 182K, Swedish Current Account Surplus Widens in Q4, UK House Price Growth Slows to 6-Month Low, Austria Q4 GDP Shrinks Less than Initially Thought, France Current Account Deficit Slightly Higher in January, European Equities Fall on Rising Yields Concerns. A man holds new Myanmar kyat banknotes with a portrait of the late general Aung San, outside the Myanmar Economic Bank in Naypyidaw on 7 January, 2020. The Trading Economics Application Programming Interface (API) provides direct access to our data. The most important sector of the economy is services, which has been growing steadily in the last few years, and now account for over 38 percent of GDP. Myanmar gdp growth rate for 2018 was 6.75%, a 0.35% increase from 2017. Publish your articles and forecasts in our website. Myanmar was under a military regime for decades, yet since 2011, a transition to democracy has been taking place. However, growth had already been slowing when the coronavirus shock hit in early 2020. The description is … Selected Monthly Economic Indicators (October 2020) Statistical Yearbook 2020. Myanmar gdp growth rate for 2019 was 2.89%, a 3.86% decline from 2018. After activity took a likely severe hit in H1 amid the health crisis, the economic panorama remains bleak in H2, particularly in Q4, amid soaring Covid-19 infections. Economic growth is projected to remain subdued at 2 percent in the current fiscal year 2020-21 due to economic disruptions associated with COVID-19 containment measures imposed in December, the WB said. The Myanmar Economic Monitor for December 2019 estimates that Myanmar’s economy grew at 6.3 percent in 2018-19, marginally higher than 6.2 percent in 2017-18. ... GDP per capita, PPP (constant 2017 international $) Inflation, GDP deflator (annual %) Oil rents (% of GDP) Download. The economy of Myanmar is one of the fastest growing economies with a nominal GDP of USD $76.09 billion in 2019 and an estimated purchasing power adjusted GDP of USD $327.629 billion in 2017 according to World Bank. November 17, 2020. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). Myanmar is now one of the fastest-growing economies in Asia Pacific, with a key geostrategic location, abundant natural resources and a youthful population underpinning its progress. He is in charge of data management and economic analysis. Myanmar is now in turmoil after the military staged a coup against the ruling National League for Democracy (NLD) and detained its leader, Aung San Suu Kyi, over unsubstantiated allegations of fraud in the election held in November 2020. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. Economic growth is expected to reach 6.4 percent in 2019-20, helped by growing investment in the transport and telecommunications sector and planned infrastructure spending by the government before the 2020 elections. GDP Annual Growth Rate in Myanmar decreased to 2 percent in 2020 from 6.50 percent in 2019. It is also a country that has achieved much in a relatively short period of time, after only setting out on the path of liberalisation and democratisation in 2011-12. GDP per capita (current US$) - Myanmar from The World Bank: Data. In 2017-2018, April to March He holds degrees from Yangon Institute of Economics (B.Com and M.Dev.S) and Kyung Hee University of South Korea (M.A., Economics). Finally, industry contributes the remaining 26 percent of GDP. The Trading Economics Application Programming Interface (API) provides direct access to our data. GDP in Myanmar averaged 37.50 USD Billion from 1998 until 2019, reaching an all time high of 76.17 USD Billion in 2018 and a record low of 6.46 USD Billion in 1998. Due to the pandemic, Myanmar’s GDP growth forecast for FY2019/20 has been revised downward from 6.4 percent to just 0.5 percent as all sectors are hit, with adverse effects of varying intensity projected across all sectors. YANGON — Although Myanmar’s GDP growth has fallen to 1.8 percent due to the effects of COVID-19, the Asian Development Bank (ADB) has reported that growth is forecast to bounce back to 6 percent in 2021. In a bid to speed up the government’s tasks in 2019-2020 fiscal year, the Union government has allowed the ratio between the budget deficit and GDP at more than five per cent, said Myanmar President Win Myint who is the Chair of the finance commission, at the finance commission meeting 3/2019 at the meeting hall of the Union government office in the Presidential Palace on June By Nan Lwin 15 September 2020 . In 2020, contribution of travel and tourism to GDP (% of GDP) for Myanmar was 6.6 %. In brief. အောက်တွင် မြန်မာလို ဖတ်ရှုနိုင်ပါသည် U Maung Maung Win, Deputy Minister of the Ministry of Planning, Finance, and Industry, forecasted that the country’s GDP growth in the 2020-21 Fiscal Year targeting to reach K125.803 trillion. GDP per Capita in Myanmar (formerly Burma) (with a population of 53,382,523 people in 2017) was $1,489, an increase of $85 from $1,404 in 2016; this represents a change of 6.1% in GDP … While the 2008 financial crisis took a hit on the Japanese economy and has stunted its growth since then, it is expected that the 2020 Olympics will give it a boost. Myanmar gdp growth rate for 2017 was 6.41%, a 0.65% increase from 2016. In 2020, the estimated total GDP of all ASEAN states amounted to approximately 3.11 trillion U.S. dollars, a significant increase from the previous years. Myanmar, formerly known as Burma, is the poorest country in Southeast Asia. Myanmar The Human Capital Index (HCI) database provides data at the country level for each of the components of the Human Capital Index as well as for the overall index, disaggregated by gender. Direct access to our calendar releases and historical data. Due to the pandemic, Myanmar’s GDP growth forecast for FY2019/20 has been revised downward from 6.4 percent to just 0.5 percent as all sectors experience adverse effects of varying intensity. A frontier economy, Myanmar experienced rapid growth as it opened up in the 2000s, with GDP growth rates among the highest in Asia. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. Find Out . The new, civilian led, reformist government has taken charge and the country has began to open up to foreign direct investment. Direct access to our calendar releases and historical data. This year has not been a great one for the Myanmar economy, with GDP growth slowing and unemployment on the rise. Data. In its latest Economic Monitor report released in December, the World Bank (WB) forecasts that Myanmar’s economy will start a slow recovery in March next year. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. The Vice President delivered an opening speech at the Myanmar EU Economic … GDP Growth Rate in 2017 was 6.76%, representing a change of 5,032,687,515 US$ over 2016, when Real GDP was $74,463,144,018. 1998-2019 Data | 2020-2021 Forecast | Historical | Chart | News. Download historical data for 20 million indicators using your browser. The share of agriculture has been declining, and now represents 36 percent of GDP. For the 2020 estimate, GDP per capita in Myanmar will be USD $5142.20 in PPP per capita and USD $1,608.50 in nominal per capita GDP Annual Growth Rate in Myanmar averaged 8.32 percent from 1994 until 2020, reaching an all time high of 13.84 percent in 2003 and a record low of 2 percent in 2020. The Myanmar economy is expected to grow at just 1.8 percent in 2020, according to updated forecasts by the Asian Development Bank (ADB), released June 18. Myanmar’s economy is pretty diversified. Thus, Myanmar has encouraged domestic and foreign investors to invest in various economic sectors. Due to the slowdown in economic growth, poverty rates are forecast to increase from 22.4pc in fiscal 2018-19 to 27pc in fiscal 2020-21, according to the World Bank. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. Japan’s GDP (PPP) is $5.75 trillion. Publish your articles and forecasts in our website. Economic growth, percent change in quarterly real GDP in Burma (Myanmar), June, 2020: The latest data from Q2 2020 show economic growth of 5.3 percent, which is a decrease from the rate of growth of 6.5 percent in the previous quarter and a decrease compared to the growth rate of 5.7 percent in the same quarter last year. Myanmar Coronavirus Deaths at 3200.00 Persons, Myanmar Coronavirus Cases at 141984.00 Persons, Myanmar Coronavirus Recovered at 131571.00 Persons, Myanmar Cpi Housing Utilities at 201.57 points, Myanmar Corporate Tax Rate at 25.00 percent, Myanmar Consumer Price Index Cpi at 162.82 points, Myanmar Competitiveness Index at 3.32 Points, Italy Retail Sales Drop 3% MoM in January, Non Farm Payrolls Seen at 3-Month High of 182K, Swedish Current Account Surplus Widens in Q4, UK House Price Growth Slows to 6-Month Low, Austria Q4 GDP Shrinks Less than Initially Thought, France Current Account Deficit Slightly Higher in January, European Equities Fall on Rising Yields Concerns. The index measures the amount of human capital that a child born today can expect to attain by age 18, given the risks of poor health and poor education that prevail in the country where she lives. Though Myanmar contribution of travel and tourism to GDP (% of GDP) fluctuated substantially in recent years, it tended to increase through 2001 - 2020 period ending at 6.6 % in 2020. Myanmar's economy is expected to grow in coming years while the country's GDP is estimated to rise to 6.8 percent in 2020, Vice President Myint Swe quoted Asian Development Bank as saying. The aggregate annual growth rate of the East Asia and Pacific region is projected to slow from 5.8 percent in 2019 to 0.5 percent in 2020. In 2020, GDP for Myanmar was 70.89 billion US dollars. In its initial forecast in April, the ADB had expected GDP growth in Myanmar to be 4.2pc. The Gross Domestic Product (GDP) in Myanmar was worth 76.09 billion US dollars in 2019, according to official data from the World Bank. Myanmar's GDP is expected to grow by 1.8% in 2020 and 6.0% in 2021 – ADO 2020 Update Myanmar inflation rates forecasted at 6.0% in both 2020 and 2021 – ADO 2020 Update GDP growth Japan’s economy is market-driven so businesses, production, and prices shift according to consumer demand, not governmental action. Download historical data for 20 million indicators using your browser. CSV XML EXCEL. GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. The GDP value of Myanmar represents 0.06 percent of the world economy.