Economy

Myanmar suffered extensive damage in World War II, and some sectors of its economy have not yet fully recovered. About 60% of the population works in agriculture and forestry, and rice accounts for about half of the agricultural output. Other important crops are corn, peanuts, beans, oilseeds, and sugarcane. It is also a major producer of illegal opium in a northern region bordering Laos and Thailand, known as the “Golden Triangle”; heroin produced in the country's laboratories contributes to a large black-market trade. Myanmar's forests, which are government-owned, are the source of teak and other hardwoods. In 1985 teak replaced rice as the largest single export and, together, the two products make up over half of Myanmar's exports.

The country is rich in minerals. Petroleum is found east of the Ayeyarwady in the Dry Zone. Tin and tungsten are mined in E Myanmar; the Mawchi mines in Kayah State are also rich in tungsten. In the Shan State, northwest of Lashio, are the Bawdwin mines, the source of lead, silver, and zinc. Coal, copper, natural gas, and iron deposits have also been found in Myanmar. Gems (notably rubies and sapphires) are found near Mogok. Since the 13th cent., Myanmar has exported to China jade from the Hunkawng valley in the north.

Aside from food processing, other manufacturing industries include textiles, footwear, wood and wood products, and construction materials. The country's chief trade partners are Singapore, China, Japan, and Thailand. In addition to teak and rice, exports include oilseeds, beans, rubber, metals, hardwood, and gemstones. The chief imports are machinery, transportation equipment, food products, and consumer goods. Myanmar's developing economy, depressed by political turmoil, began to recover in the 1980s with increased private activity and foreign investment.

The Columbia Electronic Encyclopedia, 6th ed. Copyright © 2007, Columbia University Press. All rights reserved.

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