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The largest single sector of Myanmar’s economy is agriculture, mainly livestock and fishing, but it continues to rely on traditional
non-mechanised methods. Rice, generally the principal export earner, has diminished in importance in line with the continually
depressed state of the world market in the commodity. Teak wood is the country’s other main export (much of it felled and
traded illegally). Other crops include oil seeds, sugar cane, cotton, jute and rubber. Myanmar has significant deposits of
tin, copper, zinc, gemstones, silver and coal: commercial exploitation has recently begun. Although Myanmar’s oil production,
never substantial, has been falling during the last 10 years, there are thought to be large untapped reserves of both oil
and gas inland. Domestically produced gas meets about half of the country’s energy needs; hydroelectric power covers most
of the rest. A wide range of manufactured goods is assembled locally but the majority are imported. Otherwise, Myanmar’s industrial
sector is mostly concerned with processing domestically produced raw materials. Further significant sources of revenue include
opium trafficking and gemstone mining, both of which are largely controlled by the military government and have been mainly
used to finance substantial arms purchases. There are few reliable economic statistics for Myanmar; inflation in 2004 was
an estimated 27 per cent.
After years of political isolation, Myanmar became a member of ASEAN in July 1997. The government has tried to attract foreign
investment by relaxing its previous tight controls over commercial activity. However, many potential investors are deterred
by the government’s appalling human rights record and the prospect of widespread international opprobrium. Myanmar’s economic
future depends largely on political developments.
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Overview 
