Economy of Myanmar

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Economy of Myanmar

Yangon, the financial center of Myanmar
Currency	Myanmar Kyat (MMK)
Fiscal year	1 October– 30 September
Trade organisations	WTO, ASEAN, BIMSTEC, RCEP, G77, AFTA, ADB and others
Country group	Developing/Emerging[1] Lower-middle income economy[2]
Statistics
Population	54,510,000 (2024 est.)[3]
GDP	$68.01 billion (nominal; 2024 est.) [4] $291.56 billion (PPP; 2024 est.)[4]
GDP rank	86th (nominal, 2023) 63th (PPP, 2023)
GDP growth	1.97% (2022) 2.58% (2023f) 2.64% (2024f)[5]
All values, unless otherwise stated, are in US dollars.

The economy of Myanmar is the seventh largest in Southeast Asia.^[6] After the return of civilian rule in 2011, the new government launched large-scale reforms, focused initially on the political system to restore peace and achieve national unity and moving quickly to an economic and social reform program.^[7] Current economic statistics were a huge decline from the economic statistics of Myanmar in the fiscal year of 2020, in which Myanmar’s nominal GDP was $81.26 billion and its purchasing power adjusted GDP was $279.14 billion.^[6] Myanmar has faced an economic crisis since the 2021 coup d'état.