Much of the population is engaged directly in agricultural pursuits. Inclusion: 1987 Myanmar is one of the 48 countries in the least-developed category. Least Developed Country Category: Myanmar Profile * Data from the 2018 triennial review Myanmar Country Profile in PDF LDC status. Myanmar’s economy, based on the kyat (the national currency), is one of the least developed of the region and is basically agricultural. Just more than 37 percent of people still live near or below the poverty line in the country. The report states that many LDCs are stuck in a poverty trap, a vicious circle in which poverty leads to poor nutrition and health, and a lack of education, undermining productivity and investment.

Despite a wealth of natural resources, Myanmar’s agriculturally dominated economy is one of the least developed in Southeast Asia. In Oceania, there are 4 countries that are classified as least developed countries: Kiribati Solomon Islands Tuvalu Vanuatu The informal economy's share in Myanmar is one of the biggest in the world and is closely linked to corruption, smug… In Asia, there are 9 countries that are classified as least developed countries: Afghanistan Bangladesh Bhutan Cambodia East Timor Laos Myanmar Nepal Yemen; Oceania. Poverty rates rise sharply to 70 … Myanmar. The country had a highly stagnant and isolated economy for decades, but the current government is attempting to create positive economic change in Myanmar. Myanmar, also known as Burma, has the poorest economy in Southeast Asia. Myanmar is one of the poorest nations in Southeast Asia, suffering from decades of stagnation, mismanagement and isolation.

This blocks much-needed sustainable development to reduce poverty. Phrases like developing country, newly industrialized country, emerging market, frontier market, and least developed country are used to indicate a nation’s level of industrialization, poverty, human resources, and economic stability.A least developed country is one that ranks extremely low on the Human Development Index (HDI) when compared to other countries in the world. The lack of an educated workforce skilled in modern technology hinders Myanmar's economy, although recent reforms and developments carried out by the new government, in collaboration with foreign countries and organisations, aim to make this a thing of the past. Myanmar is one of the least developed countries in the world, ranking 145 out of 188 countries according to the 2017 Human Development Report.