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The United States and Burma engage regularly under the 2013 U.S.-Myanmar Trade and Investment Framework Agreement (TIFA), which created a platform for ongoing dialogue on trade and investment issues between the two governments. Under the TIFA, the two governments work together to identify initiatives that support Burma’s ongoing reform process and related development activities. In November 2016, the United States re-designated Burma as eligible for preferences under the General System of Preference program.
In 2018, Burma GDP was an estimated $68.6 billion (current market exchange rates); real GDP was up by an estimated 2.1%; and the population was 53 million. (Source: IMF)
Burma is currently our 106th largest goods trading partner with $759 million in total (two way) goods trade during 2016. Goods exports totaled $264 million; goods imports totaled $496 million. The U.S. goods trade deficit with Burma was $232 million in 2016.
According to the Department of Commerce, U.S. exports of goods to Burma supported an estimated one thousand jobs in 2015 (latest data available).
- Burma was the United States' 125th largest goods export market in 2018.
- U.S. goods exports to Burma in 2018 were $264 million, up 24.7% ($52 million) from 2017 and up 2,350.5% from 2008.
- The top export categories (2-digit HS) in 2018 were: food waste, animal feed ($66 million), plastics ($48 million), miscellaneous grain, seeds, fruit (soybeans) ($33 million), machinery ($21 million), and optical and medical instruments ($15 million).
- U.S. total exports of agricultural products to Burma totaled $128 million in 2018. Leading domestic export categories include: soybean meal ($68 million), distillers grains ($15 million), soybeans ($11 million), wheat ($7 million), and planting seeds ($7 million).
- Burma was the United States' 91st largest supplier of goods imports in 2018.
- The top import categories (2-digit HS) in 2018 were: woven apparel ($106 million), leather products ($94 million), knit apparel ($78 million), precious metal and stone (other stones, not strung) ($75 million), and fish and seafood (crabs) ($36 million).
- U.S. total imports of agricultural products from Burma totaled $8 million in 2018. Leading categories include: planting seeds ($2 million), coffee, unroasted ($695 thousand), fresh vegetables ($546 thousand), tea, including herb ($460 thousand), and tree nuts ($406 thousand).
- The U.S. goods trade deficit with Burma was $232 million in 2018, a 49.7% increase ($77 million) over 2017.
NOTE: No U.S. services trade or investment data with Burma are available.