Free Trade Agreements (as a member of the ASEAN): Australia-New Zealand, India, Canada, China, the European Union (EU), Japan, South Korea, the United States, Australia- New Zealand and Pakistan;
The Government controlled the activity in the strategic sector of the Burmese economy: energy, heavy industry, and international trade of rice (control local rice prices);
The Military commercial entities dominate the economy of Myanmar;
The Republic of the Union of Myanmar is rich in resources (hardwood timber, natural gas, fishery reserves, gems, and jade);
The agricultural sector (agriculture, livestock, fisheries, and forestry) represent 50% of the Burmese gross domestic product;
In the recent years, the Union of Myanmar has liberalized local and international trade, promoting the private sector and opening the country to the FDI;
Burmese Currency: Kyat (K) (MMK).
International Trade of Burma.
Rice exports of Burma hit a record;
The main Burmese export products of Myanmar
are natural gas (38%), agricultural export products (18%), precious stones, timber and forest products, and marine products;
The largest
export markets of Myanmar
are Thailand (40%), Singapore (13%), Hong Kong and India (11%), the People's Republic of China (8%), and Malaysia;
The main imports products of Myanmar are petroleum, textiles, machinery parts, steel, iron, and bars;
The largest Burmese import markets of Myanmar are Singapore (30%), China
(18%), the Bahamas (13%), Thailand, and Japan;
The Port of Yangon is the largest port in the Republic of the Union of Myanmar (90% of the foreign trade -exports and imports-).
(c) EENI Global Business School (1995-2023)
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