List of Banks in Myanmar

Myanmar Citizens Bank Ltd 

Co-operative Bank Ltd

Yadanabon Bank Ltd

Myanmar May Flower Bank

First Private Bank Ltd

Myawaddy Bank Ltd

Yangon City Bank Ltd

Yoma Bank Ltd

Myanmar Oriental Bank Ltd

Tun Foundation Bank Ltd

Kanbawza Bank Ltd

Asian Yangon International Bank Ltd

Myanmar Industrial Development Bank Ltd

Myanmar Livestock and Fisheries Development Bank Ltd

Sibin Tharyaryay Bank Ltd

Innwa Bank Ltd

Economy—overview: Burma has a mixed economy with private activity dominant in agriculture light industry and transport and with substantial state-controlled activity mainly in energy heavy industry and the rice trade. Government policy in the last nine years 1989-97 has aimed at revitalizing the economy after three decades of tight central planning. Thus private activity has markedly increased; foreign investment has been encouraged so far with moderate success; and efforts continue to increase the efficiency of state enterprises. Published estimates of Burma's foreign trade are greatly understated because of the volume of black-market trade. A major ongoing problem is the failure to achieve monetary and fiscal stability. Although Burma remains a poor Asian country its rich resources furnish the potential for substantial long-term increases in income exports and living standards.

 

GDP: purchasing power parity—$55.7 billion (1997 est.)

 

GDP—real growth rate: 6% (1997 est.)

 

GDP—per capita: purchasing power parity—$1 190 (1997 est.)

 

GDP—composition by sector:

 

agriculture: 61%

 

industry: 10%

 

services: 29% (1996 est.)

 

Inflation rate—consumer price index: 30%-40% (1997 est.)

 

Labor force:

 

total: 18.8 million (FY95/96 est.)

 

by occupation: agriculture 65.2% industry 14.3% trade 10.1% government 6.3% other 4.1% (FY88/89 est.)

 

Unemployment rate: NA%

 

Budget:

 

revenues: $7.9 billion

 

expenditures: $12.2 billion including capital expenditures of $5.7 billion (FY96/97)

 

Industries: agricultural processing; textiles and footwear; wood and wood products; copper tin tungsten iron; construction materials; pharmaceuticals; fertilizer

 

Industrial production growth rate: 9.2% (FY95/96 est.)

 

Electricity—capacity: 1.212 million kW (1995)

 

Electricity—production: 4.1 billion kWh (FY95/96 est.)

 

Electricity—consumption per capita: 79 kWh (1995)

 

Agriculture—products: paddy rice corn oilseed sugarcane pulses; hardwood

 

Exports:

 

total value: $693 million (1996)

 

commodities: pulses and beans teak rice rubber hardwood

 

partners: Singapore China Indonesia India Thailand

 

Imports:

 

total value: $1.4 billion (1996)

 

commodities: machinery transport equipment construction materials food products consumer goods

 

partners: Japan Singapore China Thailand Malaysia

 

Debt—external: $5.3 billion (FY94/95 est.)

 

Economic aid:

 

recipient: ODA $61 million (1993)

 

Currency: 1 kyat (K) = 100 pyas

 

Exchange rates: kyats (K) per US$1—6.3941 (January 1998) 6.2418 (1997) 5.9176 (1996) 5.6670 (1995) 5.9749 (1994) 6.1570 (1993); unofficial—310-350 (1998)

 

Fiscal year: 1 April—31 March