In October 2021, firms reported that profit declined by an average of 66 percent compared to January 2021 - an improvement of 8 percentage points compared to August 2021. However, this finding was 7 percentage points worse than that observed in June 2021. This implies that firms’ performance - in terms of profitability - slightly recovered from the impacts of Coronavirus disease 2019 (COVID-19). However, firms’ operating capacity and share of firms experiencing disruptions of the supply of inputs and raw materials remained as concerns for firms in October 2021 as compared with August 2021. Given Myanmar’s reliance on imports for raw materials and inputs, supply chain disruptions can have a material impact on agricultural and manufacturing firms. Consistent with that, both agricultural and manufacturing sectors saw 65 percent of their firms experiencing disruptions in October 2021 - 14-percentage points higher than the national average. As there were no significant improvements in the business conditions, the number of firms not expecting to recover to pre-February levels in the next 6 months has increased since June 2021.
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Results from Myanmar Firm Monitoring Survey Round 9 Conducted in October 2021
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MM-Myanmar Equitable Growth, Finance And Institutions Monitoring A -- P177002
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