Myanmar and ASEAN
Myanmar is a country located in the western portion of mainland Southeast Asia. The country's capital city is Naypyidaw, and its largest city is Yangon. The country is divided into twenty-one administrative subdivisions, which include 7 regions, 7 states, 1 union territory, 1 self-administered division, and 5 self-administered zones. Myanmar has a population of over 54 million and covers an area of 261,227 square kilometres.
The country possesses abundant natural resources, a strategic location at the crossroads of Asia, a young population, and a sizable market with wide-ranging investment opportunities. Among Myanmar's long-term goals are equitable development, protecting natural resources, and creating jobs. Myanmar is also endowed with renewable energy, it has the highest solar power potential compared to other countries of the Great Mekong Subregion.
The GDP was USD 65 billion in 2021, while the GDP per capita amounted to USD 1,200. The total value of Myanmar’s international trade amounted to USD 29 billion in 2021, with the exports amounting to USD 15 billion, and the total value of imports to USD 14 billion.
About 80 percent of the country’s trade with foreign countries is done through sea routes and its main import and export destinations were China, Japan, and India. Myanmar's main exports include agricultural products, animal products, minerals, forest products, and finished industrial goods, while it imports capital goods, raw industrial materials, and consumer goods.
The Association of Southeast Asian Nations (ASEAN) is a political and economic union of ten members, has 667 million people and a territory of 4.5 million Km2; is currently the third largest economy in Asia-Pacific and the fifth largest in the World. The ASEAN Economic Community (AEC) has a combined GDP of USD 3.6 trillion according to estimates for 2022.