Source: world bank Nominal/PPP
Summary:
Myanmar GDP Per Capita expanded from 1960 to 2024, increasing from $0.55 to $74.07 .The compound annual growth rate (CAGR) averaged 7.96% over the period. The economy recorded its peak level in 2020 and its lowest level in 1966. Growth volatility remained high. The maximum drawdown reached 53.97%, indicating the largest cyclical decline from peak levels. The country experienced 12 recession episode(s) during the observed period.
Myanmar Economic Phases (1960 - 2024)
From 1960 to 2024, Myanmar economy moved through multiple cyclical phases marked by alternating periods of rapid expansion and contraction.
- Crisis (1964–1966) indicating severe economic downturn
- High Growth (1967–1968) indicating robust economic expansion
- High Growth (1972–1974) indicating robust economic expansion
- High Growth (1980–1982) indicating robust economic expansion
- Contraction (1983–1984) indicating temporary slowdown
- High Growth (1985–1986) indicating robust economic expansion
- Contraction (1987–1988) indicating temporary slowdown
- High Growth (1989–1990) indicating robust economic expansion
- High Growth (1992–1996) indicating robust economic expansion
- High Growth (1998–1999) indicating robust economic expansion
- High Growth (2005–2011) indicating robust economic expansion
- Expansion (2017–2018) indicating steady moderate growth
- High Growth (2019–2020) indicating robust economic expansion
- High Growth (2023–2024) indicating robust economic expansion
The most remarkable growth occurred in 1974 with an increase of 70.279%, while the largest decline was in 1964 at -31.315%.