ting
the private sector's access to formal credit. Moreover, the
September 2007 crackdown on prodemocracy demonstrators, including
thousands of monks, further strained the economy as the tourism
industry, which directly employs about 500,000 people, suffered
dramatic declines in foreign visitor levels. In November 2007, the
European Union announced new sanctions banning investment and trade
in Burmese gems, timber and precious stones, while the United States
expanded its sanctions list to include more Burmese government and
military officials and their family members, as well as prominent
regime business cronies, their family members, and associated
companies. Official statistics are inaccurate. Published statistics
on foreign trade are greatly understated because of the size of the
black market and unofficial border trade - often estimated to be as
large as the official economy. Though the Burmese government has
good economic relations with its neighbors, better investment and
business climates and an improved political situation are needed to
promote serious foreign investment, exports, and tourism.

GDP (purchasing power parity):

$91.13 billion (2007 est.)

GDP (official exchange rate):

$13.53 billion (2007 est.)

GDP - real growth rate:

3.8% (2007 est.)

GDP - per capita (PPP):

$1,900 (2007 est.)

GDP - composition by sector:

agriculture: 42.4%
industry: 18.9%
services: 38.7% (2007 est.)

Labor force:

29.26 million (2007 est.)

Labor force - by occupation:

agriculture: 70%
industry: 7%
services: 23% (2001)

Unemployment rate:

5.2% (2007 est.)

Population below poverty line:

32.7% (2007 est.)

Household income or consumption by percentage share:

lowest 10%: 2.8%
highest 10%: 32.4% (1998)

Investment (gross fixed):

13.1% of GDP (2007 est.)

Budget:

revenues: NA
expenditures: NA (2007 est.)

Fiscal year:

1 April - 31 March

Inflation rate (consumer prices):

35% (2007 est.)

Central bank discount rate:

12% (31 December 2007)

Commercial bank prime lending rate:

17% (31 December 2007)

Stock of money:

$598 billion
note: This number reflects the vastly overvalued official exchange
rate of 5.38 kyat per dollar. At the unofficial black market rate of
1305 kyat per dollar, the stock of kyats would equal only US$2.465
billion and Burma's velocity of money (the number of times money
turns over in the course of a year)