The Gross Domestic Product (GDP) in Myanmar expanded 2.50 percent in the fourth quarter of 2023 over the same quarter of the previous year. GDP Annual Growth Rate in Myanmar averaged 7.16 percent from 1994 until 2023, reaching an all time high of 13.84 percent in 2003 and a record low of -10.50 percent in 2021. source: Central Bank of Myanmar
GDP Annual Growth Rate in Myanmar is expected to reach 1.00 percent by the end of 2024, according to Trading Economics global macro models and analysts expectations. In the long-term, the Myanmar GDP Annual Growth Rate is projected to trend around 1.00 percent in 2025 and 1.40 percent in 2026, according to our econometric models.
Myanmar, formerly known as Burma, is the poorest country in Southeast Asia. Myanmar was under a military regime for decades, yet since 2011, a transition to democracy has been taking place. The new, civilian led, reformist government has taken charge and the country has began to open up to foreign direct investment. Myanmar’s economy is pretty diversified. The most important sector of the economy is services, which has been growing steadily in the last few years, and now account for over 38 percent of GDP. The share of agriculture has been declining, and now represents 36 percent of GDP. Finally, industry contributes the remaining 26 percent of GDP.
|
Actual |
Previous |
Highest |
Lowest |
Dates |
Unit |
Frequency |
|
|
2.50 |
-4.00 |
13.84 |
-10.50 |
1994 - 2023 |
percent |
Yearly |
|