Before 2011 Myanmar's economic development was very slow and was one of the world's least developed countries, economic liberalization has been slower because of international political factors, since November 2010, when news of the release from house arrest of Myanmar opposition's spiritual leader Aung San Suu Kyi broke and occupied the world's major news headlines, it became the opening overtue for political and economic reforms, and with the arrival of democracy, more than half a century of military rule was ended, and Western economic sanctions were gradually lifted, in July 19, 2013 the European Union reinstated Myanmar's GSP tariff preferences, and it is expected that in future United States will list Burma on their GSP tariff preferences list.
Myanmar possesses superior natural conditions, rich resources, in 2013 GDP was estimated at 112.972 billion US Dollars (purchasing power parity), per capita GDP was 1,740 US Dollars (purchasing power parity), economic development is still lagging behind, but in 2013 the economic growth rate was 7.5%, which can be classified as high growth emerging countries. Agriculture is the foundation of the national economy, accounting for 40.2% of GDP.
Preface
Development status of Myanmar's garment industry
Foreign investment situation in Myanmar textiles and clothing
Considerations for investing in Myanmar
Conclusions
Fig.1 Tah Hsin Myanmar plant
Fig.2 Strike news in July 2014
Table 1 Export statistics of the Myanmar garment industry in the last three years
Table 2 Import statistics of raw materials in Myanmar in the last three years