Myanmar Industry Sectors
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Myanmar’s major industrial sector is its mineral industry. According to official statistics, since Myanmar opened its mineral industry to foreign contracted investment in 1988, the sector gathered US$1.4 billion till the end of 2009. Some other industries in the country are agricultural processing, garments, wood and wood products, pharmaceuticals, fertilizer, oil and natural gas, jade and gems, and cement and construction materials. Industrial growth was 0.2% as of 2009.[br]
Myanmar’s major industrial sector is its mineral industry. According to official statistics, since Myanmar opened its mineral industry to foreign contracted investment in 1988, the sector gathered US$1.4 billion till the end of 2009. Some other industries in the country are agricultural processing, garments, wood and wood products, pharmaceuticals, fertilizer, oil and natural gas, jade and gems, and cement and construction materials. Industrial growth was 0.2% as of 2009.[br]
Myanmar Industry Sectors: Major Sectors
The major industry sectors of Myanmar are as follows:
Oil and Natural Gas: Myanmar exported its first oil barrel in 1962, listing itself among the oldest oil producers in the world. The industry was nationalized in 1962, following the seizure of power by the socialist-leaning military regime. To increase output from existing fields, explore new fields and restart production at suspended blocks, nine international oil companies got involved in 16 onshore blocks in 2007. However, gas has overtaken oil production. This is apparent from the fact that gas accounts for 90% of the 180,000 oil barrels that are produced in the country per day.
Oil industry statistics bbl/day
Natural industry gas statistics in billion cu m (as of 2008)
Gemstones: Myanmar is world famous for its wealth of sapphires, pearls, jade, spinels, peridots and other precious stones. It produces 90% of the rubies of the world. The export of Myanmar’s precious stones saw a steep fall when the US imposed sanctions on it, following the protests by human rights organizations against the use of drugs on workers to enhance productivity. The country holds the Myanmar Gem Emporium at different times to attract international buyers.[br]
The government’s Central Statistical Organization revealed that in the fiscal year 2008-09, Myanmar produced 32,921 tons of jade and 18,728 million carats of gems, including ruby, sapphire, spinel and peridot, as well as 201,081 mommis (754 kilograms) of pearl. For the development of the gem industry, Myanmar has been holding gem shows annually since 1964 and introducing a mid-year exhibition since 1992 and a special show since 2004.
Natural Resources: Myanmar has 82 coal mining blocks, which produced a total of 245,172 tons of coal during 2008-09. In the first six months of 2009-10, the total production of non-metallic mineral stood at 97,274 tons. Mineral exploration firms from Australia, China, Japan, Malaysia, Singapore, Thailand, Russia and the US are working in the country. Some of the main natural resources extracted in Myanmar are gold, nickel, copper, lead, zinc, chromium, coal and tin.
