Myanmar

E

Currency and Banking

The monetary unit of Myanmar is the kyat of 100 pyas (6.54 kyats equalled US$1; early 2008). The unofficial exchange rate for the kyat is considerably lower. All banks were nationalized in 1963. In 1969 the banks were amalgamated to form the Union of Burma Bank. In 1990 the Central Bank of Myanmar was established; it regulates banking operations, controls the currency, and acts as banking agent for the government. There are also specialized banks providing finance for agriculture, industry and commerce, foreign trade, and economic development projects.

F

Commerce and Trade

All foreign trade is controlled by the government, but since 1990 firms have been able to directly participate in trade. The principal exports are teak, rice, pulses, cotton, ores, metals, and rubber. The chief imports are machinery, transport equipment, chemicals, textiles, and foodstuffs. In 2000 yearly exports earned about US$1,391 million, and annual imports cost some US$2,369 million. The country’s main trade partners are Japan, Singapore, Thailand, Indonesia, Germany, the United Kingdom, and the United States. In 1991 the United States imposed trade sanctions in response to human-rights violations; many other countries and bodies operate similar sanctions against Myanmar.

G

Transport

The railway system, owned and operated by the government, has 3,955 km (2,645 mi) of track. The railway links all the important cities of the country but does not connect with railways outside the country. In October 2000 the Association of South East Asian Nations (ASEAN) approved plans for the Trans-Asia Railway Project, a 5,513-km (3,420-mi) rail link, costing US$2.5 billion. The link, which is scheduled for completion in 2006, will connect Myanmar and six other ASEAN countries (Cambodia, Laos, Malaysia, Singapore, Thailand, and Vietnam) with Kunming, in Yunnan Province, China. Inland waterways, totalling about 12,800 km (7,950 mi) of navigable rivers and canals, are far more important as transport arteries than the railway system; most large towns are river ports. The Irrawaddy River is the chief artery, and sections of the Chindwin and Salween rivers are also navigable. The road system totals 27,966 km (17,377 mi), of which about 11 per cent are paved. Several roads cross the border, notably the Burma Road, to China. There are an estimated 40,000 cars (1 per 554 people) in Myanmar, but these figures are not reliable. Myanma Airways International provides both domestic and international services. Mingaladon International Airport serves Rangoon (Yangon).

H

Communications

All postal, telegraph, telephone, and broadcasting systems are controlled by the government. In 2000 about 168,400 telephones (most of them in Rangoon), 3 million radios, and 344,314 television receivers were in use.

I

Labour

In 2006 the labour force numbered about 27.3 million people, according to World Bank figures, of whom about 63 per cent were engaged in agriculture and related activities. Few workers are organized into trade unions, and labour disputes are settled by government labour committees.