Population-Over the last 5 years, the population(54,409,800 2021) of Myanmar has continuously grown at rate of more or less 0.73% and has retained the spot of the 26th most populous country in the world. Projections show that there wouldn’t be much of a difference in this rate. However, the problem lies in terms of the number of people actually living in the rural and urban areas. According to the UN, about only 31% of the population of Myanmar live in urban areas. According to the trends and their projection this isn’t going to change in the foreseeable future.
The labour force participation of Myanmar isn’t so encouraging either. In 2021 2021: 23.21 Million people were a part of the labour force, which is only 45.68%. Over the years as well the labour force participation rate hasn’t really changed and the range is between 45-47%.
Religious and ethnic diversity – Since the early ages Myanmar has been a country which patronised Theravada Buddhism. Thus nearly nine-tenths of the population of the country is that of Theravada Buddhists. The other minorities include Protestant Christians and Muslims and Hindus are the smallest religious minorities. Myanmar is a very ethnically diverse country. Bamars account for the majority of the population and are concentrated in the Irrawaddy river valley. Karen, the hill people who settled in the plains are the second largest ethnic group. The other major ethnic groups are the Kayah and the Shan who are found around the Shan plateau.
Age– The average life expectancy of the people of Myanmar changed from 64.7 in 2010 to 67.8 in 2020. According to the UN, 43.54% of the population lies between the ages 0-24, 41.82% of the population lies between ages 25-54 and about 14.64% of the population lies in ages between 55 and 99. Thus, a census report reveals that the number of older people in Myanmar will nearly triple in the next 30 years. By 2050, the number older people are expected to be about 20% of the population. The population pyramid below provides the segmentation of the population as per the CIA. According to the pyramid and the figures provided by the UN, this can be inferred that the large chunk of the population is in the working age category. Thus, with necessary planning the companies can easily capitalise on this fact and Myanmar can be used for better growth and labour output. 210920 19:00
Literacy Rate- The literacy rates for 15 years and above, according to the World Bank are as follows:-
Quality of Infrastructure Ranking – According to the World Bank the following are the rankings of Myanmar in terms of quality of infrastructure in comparison with other ASEAN countries:-
From the above table it is pretty evident that the quality of infrastructure in Myanmar when compared to the other ASEAN countries is poor, as in all the relevant infrastructure metrics it lags behind all of them. However the government realises the need for a sound infrastructure system, as result of this special attention is being given. Thus the government has established a ‘Project Bank’, a repository of potential infrastructure projects that meet certain criteria and expect to be funded. Focus has been given to electricity infrastructure scaling-up the National Electricity Plan. They also released the Myanmar Sustainable Development Plan (MSDP) which lays down the governments long term vision of their priorities in terms of development. Through the National Rural Road Access Program, they are trying to expand access to the currently under-connected areas.
SUBSCRIBE TO OUR NEWSLETTER
Get monthly updates and latest news from the ASEAN region