Myanmar Economy

By | September 18, 2021

ECONOMY: INDUSTRY AND MINERAL RESOURCES

Myanmar also does not lack mineral resources. In the foreground is oil, extracted from the coastal islands and in the central part of the country, often associated with natural gas present in a fair quantity. There are also good productions of various metallic minerals, including above all lead, copper, zinc, tin (of which it is the fifth Asian producer), tungsten, gypsum, feldspar, silver, jade and precious stones (in particular rubies and sapphires). On the other hand, the production of electricity is fairly good; the potential would indeed be high but, also given the limited development of the industry, energy policy has had little impetus. The industries, mainly concentrated in the capital, in Mandalay and Pegu, mainly work local agricultural products; therefore there are numerous rice husking plants, oil mills, sugar factories, tobacco factories, textile factories spread all over the country, in addition to some cement factories, two oil refineries and some foundries, located near the mineral deposits. Underdeveloped is the industry linked to the country’s discrete mineral resources, which are mostly exported raw and processed outside the border. Check sunglasseswill to see Southeastern Asia Economy.

ECONOMY: TRADE, COMMUNICATIONS AND TOURISM

The trade balance appears to be in surplus, albeit rather limited: in growth for some years, the value of exports in 2006 was more than double that of imports (even if the figures do not include the extensive clandestine market). Mainly natural gas, clothing, precious wood, then minerals, oil seeds, some legumes, fish, precious stones are exported, while machinery, vehicles, fertilizers and manufactured goods in general are imported. China, Thailand and Singapore are by far the largest suppliers of industrial products; Thailand, India, China and Japan are the main buyers of Burmese goods. Overall, the infrastructures are lacking, with serious repercussions on other economic sectors. Internal traffic, not very intense, they take place mainly by river; the sampan represent in this sense a characteristic element of Burmese life, as indeed in other Indochinese countries. The great Ayeyarwady waterway is flanked by the railway that reaches the north and that from Mandalay, through a branch, leads to Lashio, where the ” Burma Road ” begins. Built by the Chinese between 1937 and 1939 during the Sino-Japanese War, it connects Kunming, in China, through mountainous areas, in Lashio, in Myanmar. The road, made necessary by the Japanese occupation of the Chinese coasts, was the only supply route between the interior of China and the outside world and after 1940, with the occupation by the Japanese of all the coasts Indochinese, it was the only way, through the connection with Rangoon, to the sea. In 1942 the Japanese occupation of Myanmar led to the closure of the road; in 1944 it was connected, at a point where it was still in the hands of the Chinese, with a supply road (the Stillwell) built by the Allies; the latter departed from Ledo and was opened in January 1945 when the first convoy headed for China. The roads are strengthened but still insufficient (about 28. 000 km of which just over a tenth are asphalted); the network thickens around Rangoon (Yangon), which is the apex of the entire communications system of the country, of which it also constitutes the largest port and airport center (Mingaladon international airport); la, the national airline, ensures connections with foreign countries and with the main cities in the interior. Tourism, a sector in which the authorities have invested most since the end of the 1990s, is heavily affected by the country’s political instability; poor security and lack of infrastructure limit the influx of tourists. of which it is also the largest port and airport center (Mingaladon International Airport); la, the national airline, ensures connections with foreign countries and with the main cities in the interior. Tourism, a sector in which the authorities have invested most since the end of the 1990s, is heavily affected by the country’s political instability; poor security and lack of infrastructure limit the influx of tourists. of which it is also the largest port and airport center (Mingaladon International Airport); la, the national airline, ensures connections with foreign countries and with the main cities in the interior. Tourism, a sector in which the authorities have invested most since the end of the 1990s, is heavily affected by the country’s political instability; poor security and lack of infrastructure limit the influx of tourists.

Myanmar Economy