A good year for growth
According to the IMF, Myanmar’s GDP grew 8.25 percent in the fiscal year 2013–14, up from 7.30 percent in 2012–13.1 The economy benefitted from rising investments, driven by inflows of foreign direct investment (FDI) and the government’s infrastructure development efforts. According to a report by the Economist Intelligence Unit, FDI inflows were $3.2 billion in the first 11 months of 2013–14, a huge rise from $1.4 billion for the whole of 2012–13.2 Natural gas exports are also aiding the economy; estimates put Myanmar’s natural gas exports at $3.6 billion a year.3 Tourism has also benefitted from reforms. There were 2 million foreign tourist arrivals in Myanmar in 2013, almost double the number in 2012.