Myanmar Overview: Economy
Myanmar suffered extensive damage in World War II, and some sectors of its economy have not yet fully recovered. About 70% of the population works in agriculture and forestry, and rice accounts for about half of the agricultural output. Other important crops are pulses, sesame, peanuts, and sugarcane. Myanmar also produces illegal opium in the northeast (bordering China, Laos, and Thailand), part of the
Golden Triangle ; heroin produced in the country's laboratories contributes to the black-market trade. Myanmar's forests, which are government-owned, are the source of teak and other hardwoods. Fishing is also important.
The country is rich in minerals. Petroleum is found east of the Ayeyarwady in the Dry Zone. Tin and tungsten are mined in E Myanmar; the Mawchi mines in Kayah State are also rich in tungsten. In Shan State, northwest of Lashio, are the Bawdwin mines, the source of lead, silver, and zinc. Coal, copper, natural gas, and iron deposits have also been found in Myanmar. Gems (notably rubies and sapphires) are found near Mogok . Since the 13th cent., Myanmar has exported jade from the Hunkawng valley in the north to China.
Aside from food processing, other manufacturing industries include wood and wood products, construction materials, pharmaceuticals, fertilizer, natural gas, and textiles and clothing. Exports include gas, wood products, pulses, fish, rice, clothing, jade, and gemstones. The chief imports are fabric, petroleum products, fertilizer, plastics, machinery, transportation equipment, construction materials, crude oil, food products, and edible oil. The country's chief trade partners are Thailand, China, Singapore, and India. Myanmar's developing economy, depressed by political turmoil, began to recover in the 1980s with increased private activity and foreign investment, but efforts to liberalize the economy stalled in the late 1990s amid new political turmoil and did not resume until the 2010s.
The Columbia Electronic Encyclopedia, 6th ed. Copyright © 2012, Columbia University Press. All rights reserved.
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