Total foreign investment in Myanmar hit US$43 billion in August, according to Myanmar Investment Commission (MIC).
Over 600 foreign businesses invested a total of $43.68 billion in twelve sectors as of August 31, MIC reported.
“Myanmar has foreign investments from 32
countries in four major sectors: energy, oil and gas, mining, and
manufacturing,” said an official from MIC.
China is the biggest investor in
Myanmar, followed by Thailand, Hong Kong, South Korea, Britain,
Singapore, Malaysia, France, Vietnam, and India.
Thailand is the largest importer from
Myanmar. As much as 41 percent of Myanmar’s total exports went to
Thailand last year, while 15 percent went to India, 14 percent to China,
seven percent to Japan, four percent to South Korea, two percent to
Malaysia, and one percent each to Singapore and Bangladesh,
respectively.
Myanmar imported mainly from China, as
usual, in 2012. A total of 37 percent of Myanmar’s imports came from
China, while 20 percent came from Thailand, nine percent each came from
Singapore and South Korea, eight percent from Japan, four percent from
Malaysia, three percent each from India and Germany, one percent from
Vietnam, and five percent from other countries.
The International Monetary Fund expects
the GDP (gross domestic product) of Myanmar to increase to 5.5 percent
in 2013 and 6.2 percent in 2014. The consumer price inflation is also
forecast to increase to 7.3 percent in 2013 and 6.6 percent in 2014,
respectively.
Myanmar’s total trade volume in 2012 was
$25.16 billion. The trade deficit reached $5.76 billion because total
exports stood at $9.69 billion and total imports were $15.46 billion.
source: Eleven Myanmar
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