Manufacturing Industry in Myanmar

The Gross Domestic Product (GDP) in Myanmar expanded 6.8 percent in 2013 from the previous year. GDP Annual Growth Rate in Myanmar averaged 8.99 Percent from 1994 until 2013.The Total Exports in Myanmar is $ 9 billion and the total Imports is $ 10.1 billion. Some of Myanmar’s Industries include Agriculture Processing, Wood & Wood Products, Copper, Tin,and Oil& Natural Gas etc.

Removal of Sanctions and reinstatement of GSP status by US & EU and lift of import and export bans by OECD countries is on the cards. So Myanmar is on the threshold of development and attracts huge investment to build its economy.

31 nations have made investments in Myanmar:
China $14 billion
Thailand $9.6 billion
Hong Kong $6.3 billion
South Korea $2.9 billion
Singapore $1.8 billion

Recent reforms in Myanmar include besides Private investments, Government promotion of the development of industrial zones and special economic zones to promote manufacturing sector. The Ministry of Industry has set up SMEs Development centre in Yangon to support local SMEs and training business development.

MYANMAR is aiming to be the hub of South Asia.