Myanmar: Economy

Floods have damaged agriculture in Myanmar again this year, but the economy is expected to record solid growth overall, spurred by wide-ranging reform and expansionary fiscal and monetary policy. Monsoon rains and flooding in July and August 2016 disrupted the lives of nearly half a million people and damaged crops, including rice production on the Ayeyarwady Delta. The heavy rains hit as agriculture, which contributes almost 30% of the gross domestic product and more than 60% of employment, was still recovering from a severe battering in 2015 from a cyclone and intense monsoon rains. Moreover, a temporary ban on certain logging practices to re-establish the country’s forests will likely curb forestry output in the near term. Looking to boost prospects for agriculture over the longer run, the government is reforming the land-titling system and returning previously confiscated land to farmers. Read more from Asian Development Outlook 2016 Update

Economic forecasts for Southeast Asian countries

Country 2016 2017
Brunei Darussalam 1.0 2.5
Cambodia 7.0 7.1
Indonesia 5.0 5.1
Lao People’s Dem. Rep. 6.8 7.0
Malaysia 4.1 4.4
Myanmar 8.4 8.3
Philippines 6.4 6.2
Singapore 1.8 2.0
Thailand 3.2 3.5
Viet Nam 6.0 6.3
Average 4.5 4.6
Country 2016 2017
Brunei Darussalam -0.6 0.4
Cambodia 2.8 3.4
Indonesia 3.5 4.0
Lao People’s Dem. Rep. 1.6 2.3
Malaysia 2.1 2.5
Myanmar 9.5 8.5
Philippines 1.8 2.8
Singapore -0.8 0.8
Thailand 0.4 2.0
Viet Nam 2.5 4.5
Average 2.0 2.9
Country 2016 2017
Brunei Darussalam -4.5 -2.0
Cambodia -11.1 -10.2
Indonesia -2.3 -2.4
Lao People’s Dem. Rep. -16.0 -19.0
Malaysia 1.2 2.3
Myanmar -8.3 -7.7
Philippines 2.0 1.8
Singapore 19.5 19.5
Thailand 9.5 4.0
Viet Nam 3.0 4.0
Average 3.4 2.7

Source: Asian Development Outlook 2016 Update

 

 
This page was generated from https://www.adb.org/countries/myanmar/economy on 30 September 2016