Overview: Burma is a poor Asian country, with a per capita GDP of about $660. The nation has been unable to achieve any substantial improvement in export earnings because of falling prices for many of its major commodity exports. For rice, traditionally the most important export, the drop in world prices has been accompanied by shrinking markets and a smaller volume of sales. In 1985 teak replaced rice as the largest export and continues to hold this position. The economy is heavily dependent on the agricultural sector, which generates about 40% of GDP and provides employment for 65% of the work force. Burma has been largely isolated from international economic forces and has been trying to encourage foreign investment, so far with little success.

National product: GDP - exchange rate conversion - $28 billion (1992)

National product real growth rate: 1.3% (1992)

National product per capita: $660 (1992)

Inflation rate (consumer prices): 50% (1992)

Unemployment rate: 9.6% (FY89 est.) in urban areas

Budget: revenues $8.1 billion; expenditures $11.6 billion, including capital expenditures of $NA (1992)

External debt: $4 billion (1992)

Industrial production: growth rate 2.6% (FY90 est.); accounts for 10% of GDP

Electricity: 1,100,000 kW capacity; 2,800 million kWh produced, 65 kWh per capita (1992)

Industries: agricultural processing; textiles and footwear; wood and wood products; petroleum refining; mining of copper, tin, tungsten, iron; construction materials; pharmaceuticals; fertilizer

Agriculture: accounts for 40% of GDP (including fish and forestry); self-sufficient in food; principal crops - paddy rice, corn, oilseed, sugarcane, pulses; world's largest stand of hardwood trees; rice and teak account for 55% of export revenues

Illicit drugs: world's largest illicit producer of opium poppy and minor producer of cannabis for the international drug trade; opium production has nearly doubled since the collapse of Rangoon's antinarcotic programs

Economic aid: US commitments, including Ex-Im (FY70-89), $158 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-89), $3.9 billion; Communist countries (1970-89), $424 million

Currency: 1 kyat (K)=100 pyas

Exchange rates: kyats (K) per US$1 - 6.0963 (January 1992), 6.2837 (1991), 6.3386 (1990), 6.7049 (1989), 6.46 (1988), 6.6535 (1987); unofficial - 105

Fiscal year: 1 April-31 March