Myanmar Basic Information

Myanmar Basic Information

Basic data
Capital Naypyidaw
Population 54.81 million
Language Burmese
Religion Buddhism, Christianity, Islam, Hinduism
State system federal republic
Head of State the government is not internationally recognized
Head of government the government is not internationally recognized
Currency name myanmar kyat
Time shift +hours (in summer +4.5)
Economy 2021
Nominal GDP (billion USD) 242.9
Economic growth (%) -3.8
Inflation (%) 8
Unemployment (%) 11.7

According to a2zdirectory, in Myanmar, on the morning of February 1, 2021, the army took over all power in the country, and the public reacted to the military coup with protests and strikes, which practically made it impossible to carry out trade exchanges for about half a year. Although the new regime suppressed the mass demonstrations, a part of the population chose sharper forms of protest, which escalated into a regular civil conflict. The international community reacts to the situation in the country with an expanding list of sanctions, which (together with the successful pressure of international human rights organizations and the Myanmar opposition) makes it practically impossible to invest in the country or participate in tenders issued by the military regime.

However, business relations with Myanmar private enterprises can still be maintained. Opportunities for export can now be seen mainly in the field of agricultural technology and chemistry and in the health sector. In the case of medical equipment, it is mainly devices and preparations intended for home use, as there has been a significant decrease in the availability of health care in the country as a result of repressions aimed in part also at doctors and medical personnel.

The chaos into which the Myanmar economy was thrown in 2021 brought about a noticeable decrease in the purchasing power of consumers (and many companies) and the emptying of the middle of the consumer spectrum. Up to 48% of the population is now at risk of absolute poverty. In contrast, the pressure on the upper consumer class was not so enormous. For exporters, this means that sales for mid-range goods have decreased, and if they want to succeed in the Myanmar market, they must either offer an extremely favorable price or, on the contrary, target premium customers with goods of the highest quality, with superior presentation and packaging, and possibly a number of additional services for the lifetime of the product.

Currently, it is possible to observe a partial stabilization of the conditions for business operations, with most of the existing routes for the transport of goods into the country open, after more than two years, the issuance of business visas has been resumed, and visible protests in the country have decreased. However, the “new normal” also means a significantly greater closure of the country and an increase in administrative barriers for importers, and the already mentioned plunge of many of the population into poverty. Therefore, however much the possibilities for the realization of exports have improved (compared to the crisis year 2021), the demand for them has fallen significantly, and at the moment there are no indicators that would indicate an early positive turn.

Practical telephone numbers (emergency services, police, firemen, information lines, etc.)

Police: 199

Traffic police: +95 1 500005

Firefighters: 191 or +95 1 252011

Emergency service: 192 or +95 1 256112, 265131

Red Cross: +95 1 682600

Inquiries to phone numbers: 1876

Immigration Office: +95 9 67431356

Yangon/Yangon Airport: +95 1 533031

Important web links and contacts

Ministries under SAC control:

  • (Ministry of Foreign Affairs)
  • (Ministry of Planning and Finance)
  • (Ministry of Commerce)
  • (Central Bank)
  • (Government Company Registration Office)
  • (statistical information)
  • (Customs Administration)

CRPH and NUG authorities:

  • (CRPH)
  • (NUG)

Chambers of Commerce:

  • (Myanmar Union of Chambers of Commerce and Industry)
  • (EuroCham – EU Chamber of Commerce in Myanmar)

International organisation:

  • (World Bank)
  • (International Monetary Fund)
  • (Asia Development Bank)
  • (UNDP)
  • (EU Delegation in Yangon)

Consulting firms:

  • (Deloitte Touch Myanmar)
  • (KPMG Yangon)
  • (Thura Swiss)

Newspapers, magazines (in English):

  • (The Global Newslight of Myanmar, official newspaper of the SAC government)
  • (Frontier Myanmar)
  • (The Irrawaddy)
  • (Myanmar Now)

Myanmar Basic Information