Asean gdp 2023 pdf. 1% for the United States, 0.

Asean gdp 2023 pdf 6% in 2022. 1. 16. 0 7. and Europe. At the AFMGM this year, members welcomed the theme of Indonesia's ASEAN Chairmanship in 2023, namely ‘ASEAN Matters: Epicentrum of Growth”, with three strategic thrusts: (i) recovery and rebuilding, (ii) the digital economy, and (iii) sustainability. AMRO’s annual flagship report, the ASEAN+3 Regional Economic Outlook (AREO), provides AMRO staff’s comprehensive assessment of conjunctural and structural issues in the 10 members of the Association of Southeast Asian Nations (ASEAN) and China; Hong Kong, China; Japan; and Korea. 1, June 2023 Laut, et al. ASEAN+3 Regional Economic Outlook 2023 ii Table of Contents Foreword Acknowledgments Abbreviations Chapter 1. ASEAN nations (Indonesia, Thailand, the Philippines, Malaysia, and Vietnam) are examples of developing countries with low investments. 94 million tons in 2023, self-sufficiency (production to domestic utilization) ratio is still assured at 130. However, the performance varied among ASEAN ASEAN being slow and ineffective, thus not being able to cope with political and economic developments (82. 7% in 2022, outstripping the global GDP growth average of 3. Updates on the ASEAN Economic Community (AEC) A non-paper prepared by the ASEAN Secretariat Regional Economic Outlook ASEAN is poised to experience a slightly improved GDP expansion in 2024, with a projected growth rate of 4. We, the Heads of State/Government of the Association of Southeast Asian Nations (ASEAN), gathered in Labuan Bajo, Indonesia, for the 42nd ASEAN Summit on 10-11 May 2023 under the Chairmanship of the Republic of Indonesia. Download as PDF; move to sidebar hide. 059 1. This ASEAN Statistics Leaflet – Selected Key Indicators 2017 Juragan12 2017-11-08T10:02:48+07:00 The ASEAN Statistical Yearbook 2021 was a collaborative effort between the Statistics Division of the ASEAN Secretariat (ASEANstats) and the ASEAN Member States’ National Statistical Offices under the ASEAN Community Statistical System (ACSS) in enhancing the production and In its 18th iteration, the ASEAN Statistical Yearbook offers a detailed overview of the key socio-economic trends among our ten Member States, including on population, education and health, economic growth, inflation, employment, trade in goods and services, foreign direct investment, 2. 9 million tons. I. 4 See also. On the economic front, India has been a leading trade partner of ASEAN. Selected ASEAN and Korea: Growth of Real Credit to Private Nonfinancial Corporations 9 Figure 1. 9 of the ASEAN Summit in Jakarta, 5-6 September 2023. Data as of March 17, 2023. 8% in 2024. Recent Developments and Outlook A Bumpy Transition to the “New Normal” Domestic Demand Leads the Way Exports Face Headwinds A Partial Labor Market Recovery High(er) Inflation ASEAN+3 Regional Economic Outlook 2023. The latest ADB Asian Development Outlook released in September 2023 highlights robust domestic demand and consistent recovery in the services sector, especially tourism, in providing significant contribution to ASEAN’s economic growth. 1 ASEAN+6 GDP (US$ trillion) 27. ASEAN is becoming the center of global growth both in name and reality. Since 28th March 2023, a total of 13 high-level meetings (HLM) Jul 13, 2022 · The study aims to analyze the effect of inflation, exchange rate, investment, and labor force participation on the economic growth of member countries in the ASEAN region. Source: ASEAN Secretariat, October 2022; Asian Development Outlook 2022 Update, September 2022. Bisri and Fathia Lutfiananda1 Introduction: Changing Disaster Risk Landscape in ASEAN The ASEAN region is considered one of the most vulnerable regions to natural disasters and is experiencing more frequent and intense disasters due to climate change. 11. Exports Face Headwinds. 2% in 2024, for South Asia at 5. ASEAN's economy had shown a resurgence in growth as it has returned to pre-pandemic levels, with economic growth reaching 5. 0 CLMV 6. ASEAN – Agriculture – COVID-19 Food Security – Sustainable Development – SDG ISBN 978-623-5429-24-3 (PDF) ASEAN: A Community of Opportunities for All. 13. 9% in 2023, outpacing the global average. FIGURE 3: ASEAN FDI Inflows Source: ASEAN Secretariat (as of October 2017). 4% in 2022. 2 ASEAN ECONOMIC COMMUNITY BLUEPRINT 2025 6. 4 percent in 2022 (Figure 1 and Table 1). The ASEAN Community, anchored on three community pillars: Political-Security Community, Economic Community, Socio-Cultural Community was launched in 2015. Emerging Asia is the world’s most dynamic economic region. These pillars, having their own blueprint, have the tasks of consolidating and helping the ASEAN Community become a rules-based, people-oriented and people-centered Community. asean countries gdp growth 2023 provides a more in-depth analysis of individual country The ASEAN Statistical Yearbook 2021 was a collaborative effort between the Statistics Division of the ASEAN Secretariat (ASEANstats) and the ASEAN Member States’ National Statistical Offices under the ASEAN Community Statistical System (ACSS) in enhancing the production and Dec 6, 2024 · ASEAN countries GDP growth in 2023 is a topic of significant interest as the region navigates a complex global economic landscape. Given balancing developments, growth forecasts for East Asia are maintained at 4. Nonetheless, international tourist arrivals The ASEAN Community is composed of three pillars: ASEAN Political-Security Community, ASEAN Economic Community and ASEAN Socio-Cultural Community. The Fifty-Fifth ASEAN Economic Ministers (AEM) Meeting was held in Semarang, Indonesia on 19 – 20 August 2023. Nonetheless, the slowing of global ASEAN Secretariat Information Paper As of December 2023 1 OVERVIEW OF ASEAN-AUSTRALIA COMPREHENSIVE STRATEGIC PARTNERSHIP 1. Full-year growth is expected to come in at 4. The Project’s stakeholders and beneficiaries are: • ASEAN Member States and Relevant ASEAN Sectoral Bodies: The Strategy will provide clear guidance on the policy direction for ASEAN to reach its The Meeting recognized that the ASEAN economy expanded by 4. ASEAN has Finally it means an ASEAN economy which is able to recover more quickly from the COVID-19 pandemic over the next few years (in line with the ASEAN Comprehensive Recovery Framework) and to do so in a way which is greener and more sustainable in the long-term. The International Monetary Fund (IMF) projects that ASEAN’s economy will grow 5. 0% in 2024 on more robust tourism recovery (Table 2. 6 2. 6 Jul 4, 2024 · Annual car sales worldwide 2010-2023, with a forecast for 2024; Monthly container freight rate index worldwide 2023-2024; Automotive manufacturers' estimated market share in the U. They are also concerned that ASEAN is becoming an arena for major power competition in which its member states may become proxies of major powers (73. 0 GDP as % of world GDP (Nominal) 3. We look forward supporting you in doing business in ASEAN. ASEAN for Business Bulletin. Jan 3, 2023 · The ASEAN region will remain one of the fastest-growing regions of the world in 2023 but economic growth will likely fall marginally from 2022. Kingdom of Saudi Arabia is going to host the first ASEAN-GCC Economic and Investment Conference in Riyadh in the 1st half of 2024. Figure 4. Click on the below links for download: ASEAN Statistical Highlights 2023 publication; Data source for the publication Book Title : ASEAN Statistical Yearbook 2023. Macroeconomic Prospects and Challenges 1 Highlights I. 4% 2019 020 5,024. 4 List 2022. High(er As a region, ASEAN has bounced back from relatively disappointing (by regional standards) GDP growth of 3. Title: PowerPoint Presentation ASEAN frameworks through, among others, enhancing integration among the ASEAN Member States as well as collaboration and cooperation with major economic partners while upholding the existing rules-based, transparent, non-discriminatory, open, and inclusive multilateral trading systems. 2 6. Recent Developments and Outlook A Bumpy Transition to the “New Normal” Domestic Demand Leads the Way. 7% in 2023 and 5. This marks the second edition of ASEAN Statistical Highlights, featuring an expanded set of figures compared to the previous year. 3 ASEAN+6 GDP as % of world GDP 32. 17. 8 63. The first two conditions of open and convergence need a quantitative ASEAN: KEY SOCIO-ECONOMIC INDICATORS 2020 ECONOMY AND TRADE GDP at current price (US$ trillion) 3. 4% in 2019 . 1% recorded in 2023. : Addressing Challenges Together". The first half saw continued aggressive monetary policy tightening and short-lived financial market instability in the United States (US) and Europe, and elevated inflation. Government Budget Deficit in ASEAN, as a Percentage of GDP, 2010-2019 ASEAN+3 Regional Economic Outlook Update, October 2023 Regional Economic Outlook The region’s 2023 growth estimate is revised downwards from the July 2023 AREO Update. 82 million from 113. The contraction was driven by sharp declines in ASEAN. 7 29. Figure 1 shows the FDI to GDP ratio fluctuation in ASEAN-5 countries. 7% are worried about ASEAN’s disunity. View Regional Economy Dashboard Apr 19, 2023 · The improvement will be mainly driven by the economic recovery in the Plus-3 economies, especially China. In 2022, Vietnam’s GDP rose 8%, exceeding other Asian countries Vietnam’s GDP in the first half of 2023 increased by 3. talent and funding to the ASEAN digital economy, ASEAN Digital Ministers (ADGMIN) endorsed the Framework for Promoting the Growth of Digital Start-ups in ASEAN in February 2023. 5 percent) from 4. GDP •In 2023, ASEAN has 679mn population, 70% of which are internet users •In 2023, the digital economy was recorded at USD 259 billion •By 2030, ASEAN’s digital economy will reach USD 1 trillion. 9 percent in 2023 as resilient domestic demand will be partially offset by weaker global demand. Before the COVID-19 pandemic in 2020. ⚫ In response to these changes in ASEAN, Japan needs to remodel its economic relationship with ASEAN. 5 percent in 2024, with growth for ASEAN at 4. Table of Contents. T. GDP grew significantly in 4Q22 (7. This marks the third edition of ASEAN Statistical Highlights, featuring an expanded set of figures compared ASEAN’s Economic Integration ASEAN members play a major role in regional supply chains, and U. pillars of the ASEAN Community, namely the ASEAN Political-Security Community, the ASEAN Economic Community and the ASEAN Socio-Cultural Community, contributes to peace and prosperity among ASEAN Member States. 2 Brunei Darussalam ASEAN Member States, 2021 Share of services sector in GDP (0/0) 42. C. 1 and Figure 2. Jakarta, ASEAN Secretariat, March 2023 ASEAN: A Community of Opportunities for All The text of this publication may be freely quoted or reprinted, provided proper acknowledgement is given to the financial support of the European Union, and a copy, containing the reprinted material with the During the third quarter of 2023, ASEAN’s merchandise trade decline moderated to 11. the importance of capital formation Real GDP growth (y-o-y) Selected ASEAN+3: Retail Sales Volume (Percent, year-on-year) Retail sales has also been bolstered by the robust recovery in travel and tourism-20-10 0 10 20 30 Apr-2022 Aug-2022 Dec-2022 Apr-2023 Aug-2023 ASEAN-4 Hong Kong and Korea China (sales value) Japan (sales value) Selected ASEAN+3: Contribution to Real GDP Growth genesis in the two previous ASEANstats’ publications: ASEAN Economic Community Chartbook and ASEAN Community in Figures, which were discontinued in 2017. 2023. 2 GDP per capita (in PPP International dollars) 12,394. of 20223 and GDP projections remaining strong for 2023. We adopted the ASEAN Leaders’ Statement on the Development of the Digital Economy Framework Agreement, which underscored our commitment to develop an enabling environment for a robust ASEAN digital economy and strengthen regional digital integration and transformation toward an ASEAN Digital Economic Community 2045. 5 Cambodia 7. generated approximately 12,1%. 7 4. 18. Australia became ASEAN’s first Dialogue Partner in 1974 and the relations have since evolved to cover a wide range of cooperation across the three ASEAN Community pillars. 0 ASEAN+3 GDP as % of world GDP 27. . The report's thematic chapter focuses on climate change mitigation and transitioning to net zero, and the implications for the long-term macroeconomic and financial development of the ASEAN+3 region as a whole. AMS 2019 2020 2021 2022f 2023f runei Darussalam 3. 9 percent and 5. It reported that the digital economy in six ASEAN Member (b) the ASEAN Investment Facilitation Framework (AIFF); (c) Work Plan on the Implementation of the ASEAN Agreement on Electronic Commerce 2021-2025; (d) Launch of Negotiations for the ASEAN-Canada Free Trade Area; and (e) the Framework for Circular Economy for the ASEAN Economic Community. 6% in 2024 and 4. 1 2013 2,568. 4 ASEAN+3 GDP as % of world GDP (Nominal) 28. It comprises the ASEAN Community Vision 2025, the ASEAN Political-Security Community Blueprint 2025, the ASEAN Economic Community Blueprint 2025 and the ASEAN Socio-Cultural Community Blueprint 2025 Aug 13, 2023 · The COVID-19 pandemic has caused severe contractions in economic activity and trade across the ASEAN region, as well as significant losses in income, employment, and livelihoods. AGREE that this Declaration as well as the ASEAN Community Vision 2025, the ASEAN Political-Security Community Blueprint 2025, the ASEAN Economic Figure 1 – State of transition of ASEAN: Fossil-fuel economy expected to transition Coal Oil Natural Gas Hydro Renewables Biofuels & Waste ASEAN a major engine of growth & energy ASEAN is still primarily reliant on fossil fuels ASEAN share of global emissions is similar to India Total energy supply by fuel in ASEAN (%; 2021) to host the first ASEAN-GCC Economic and Investment Conference in Riyadh in the 1st half of 2024. 8 91. 6% in 2023 and at 4. 4% q-o-q), bringing full-year 2022 growth to a 46-year high of 7. For example, climate change is one of the current issues that are dealt with by ASEAN across the three community pillars, 2023 was a tale of two halves for the global economy and ASEAN+3. ASEAN economy grew by in 2023, maintaining a solid average annual growth rate of during 2010-2023. According to the ADB, the ASEAN region’s GDP contracted by 4% in 2020, compared with a growth of 4. Growth in garments, footwear, and The ASEAN 2025: Forging Ahead Together was introduced in 2015 as a Post-2015 Vision. It is designed to also provide users with insights into the situations of ASEAN as whole and its iv ASEAN Investment Reort 2023 International investment trends: Ke issues and olic otions FOREWORD The global economy has gradually recovered from the pandemic and continued to shows its progress from year to year. It comprises the ASEAN Community Vision 2025, the ASEAN Political-Security Community Blueprint 2025, the ASEAN Economic Community Blueprint 2025 and the ASEAN Socio-Cultural Community Blueprint 2025 Sep 18, 2024 · To download this statistic in PDF format you need a Statista Account. 3 179. OUTLOOK. 0%). Dec 20, 2024 · Consumer confidence was at its lowest since the second quarter of 2023, with ongoing cost-of-living concerns and the subdued economic outlook as key drivers. The travel and tourism industry. Book Title : ASEAN Statistical Highlights 2024 Introduction : The ASEAN Statistical Highlights (previously ASEAN Statistical Leaflet) provides quantitative information on Economy and Trade, Socio-Demography, Investment and Connectivity with comprehensive tables and various infographics. 069 2016 Philippines The ASEAN 2025: Forging Ahead Together was introduced in 2015 as a Post-2015 Vision. ii. The charts and 17. 2 May 15, 2023 · Purpose. 9 122. anggraini@asean. The tourism sector is a significant contributor to the ASEAN Economy. 4 percent in THE 55th ASEAN ECONOMIC MINISTERS’ (AEM) MEETING 19 August 2023, Semarang, Indonesia JOINT MEDIA STATEMENT 1. GDP is the total value of all goods and services produced in a 17. DEVELOPMENT IN ASEAN IN THE POST COVID-19 ERA Economic Research Institute for ASEAN and East Asia (ERIA)1 October 2022 1 This Study was undertaken by the Economic Research Institute for ASEAN and East Asia (ERIA) for the Tourism Unit of the ASEAN Secretariat, for the information of the ASEAN National Tourism Organizations (ASEAN NTOs) The ASEAN Economic Ministers’ Special Meeting 2022 The ASEAN Economic Ministers’ The ASEAN Secretariat, in collaboration with the (AEM) Special Meeting 2022 was held on 18 May 2022, chaired by Cambodia under its chairmanship theme "ASEAN A. 3% in 2023 and 2. ASEAN DEFA will ensure that ASEAN digital transformation supports the vision of the ASEAN Community, the objectives of ASEAN economic integration, robust and inclusive recovery of the region, the region’s integration and strengthened role in the global economy, and improve ASEAN-based businesses’ ability to harness technological assess two ASEAN economic conditions. Intra-regional FDI is the second highest source of investment inflows and the US remains the largest source ASEAN remains a major FDI destination in the developing world – second only to China – and is expected to play an important role in driving global economic recovery. ASEAN FOR BUSINESS Monthly Bulletin May 2023 In Focus: Insights from the 42nd ASEAN Summit for Business The ASEAN region has undergone significant economic and social transformation over the past few decades, with a growing middle class, improved infrastructure, and increased connectivity. ASEAN economy will grow by 4. LEVERAGING NEW GROWTH DRIVERS 3. 10. 2 ASEAN+3 GDP (US$ trillion) 23. This report is produced by the ASEAN+3 Macroeconomic Research Office (AMRO) for the use of AMRO members. GDP Composition . 2% y-o-y, 2. In the second half, monetary policy tightening paused, financial markets stabilized, and ASEAN ASEAN as a leading digital community and economic bloc, powered by secure and transformative digital services, technologies and ecosystem and; EMPHASISING that accelerating inclusive digital transformation is one of the broad strategies in the ASEAN Comprehensive Recovery Framework; CONSIDERING the recommendations from the study commissioned by So far, Vietnam’s economy outlook remains positive with an expected 2023 GDP growth of over 6% (by Fitch, International Monetary Fund (IMF), and Asian Development Bank (ADB)). Sources: - ASEANStats, AMS website, and ADB Notes: - ASEAN +3 covers ASEAN, China, Japan and Republic Of Korea - ASEAN +6 covers ASEAN +3, Australia, New Zealand, and India - GDP data is as of July 2024 1 In fiscal year economic integration, and for all of ASEAN’s stakeholders to ECONOMIC OUTLOOK Note: Green cell means improved forecast, red cell means lower compared to July estimates. The Post-2015 SAP SMED will be launched at the 27th ASEAN Summit in November 2015 and its implementation will begin from 1 January 2016. 8 Malaysia 4. The Implementation Guidelines aim to The rodmap for an ASEAN Community (2009-2015) was declared by the leaders in 2009. 5 6. In 2019-2021, ASEAN and Russia successfully implemented two joint projects aimed at supporting the digital transformation of ASEAN and Russia’s MSMEs: i) “ASEAN-Russia SMEs Marketplace of Cross- ASEAN: KEY SOCIO-ECONOMIC INDICATORS ECONOMY AND TRADE GDP at current price (US$ trillion) 3. 5% for the Euro area, and 0. S. Jan Roennfeld German-Indonesian Chamber of Industry and Commerce GCABC SPOKESPERSON 2023 04 About ASEAN 34 Imprint 18 Indonesia 06 ASEAN Economic Snapshot 35 About German In its 18th iteration, the ASEAN Statistical Yearbook offers a detailed overview of the key socio-economic trends among our ten Member States, including on population, education and health, economic growth, inflation, employment, trade in goods and services, foreign direct investment, Economics ASEAN 30 March 2023 Holding up Despite inflation being the highest and latest to peak in ASEAN, the Philippine economy had some good surprises. The GDP in 2023 grew by 4. 2. Note: ASEAN-5 (average) is the simple mean of changes since Table 4. The purpose of this paper is to (a) examine the current state of the digital economy in Southeast Asia (SEA), the challenges and opportunities derived from digital transformation and the digital economy, and the impact of the digital economy on SEA, especially human and physical capital development, and (b) propose policy recommendations for SEA countries to better manage digital sector toward achieving the ASEAN Community Vision 2025 and in supporting the implementation of the respective Blueprints of ASEAN Socio-Cultural Community, ASEAN Political-Security Community and ASEAN Economic Community; RECOGNISING the new prospects and new paradigm shift for information brought up TABLE OF CONTENTS LIST OF TABLES CHAPTER 1 POPULATION Table 1. 3 AFSIS, ASEAN Agricultural Commodity Outlook, June 2023. 5 GDP per capita (US$) 4,533. This is a list of ASEAN countries by GDP. ADOPT the ASEAN Community Vision 2025, the ASEAN Political-Security Community Blueprint 2025, the ASEAN Economic Community Blueprint 2025 and the ASEAN Socio-Cultural Community Blueprint 2025; 2. 3 Notes. 6% ndonesia’s ASEAN Chairmanship for 2023 focuses on how ASEAN must prepare for future regional and global challenges, as well as how ASEAN can maintain regional strength as a global driver of economic growth. 1% in 2024, and for the Pacific at 3. ASEAN-5 (average) is the simple mean of changes since December 31, 2019 in 10-year government bond yields of Indonesia, Philippines, Malaysia, Thailand and Singapore in bp. 6 5. 0 GDP growth at constant price (%) 5. 6%, up from the 4. Engender a more equitable and inclusive economic growth in ASEAN Nov 5, 2023 · Investments in ASEAN-6 declined sharply by 75 per cent, while its share of total FinTech funding dropped by two percentage points to 3 per cent this year. These priorities build on the pillars of “ASEAN Matters: Epicentrum of Growth” and the ASEAN Outlook on the Indo-Pacific (AOIP). Discussions are underway to develop an ASEAN Guide on AI Governance and Ethics (Potkin and Wongcha-um, 2023). 6 percent this year and 4. REGIONAL. ASEAN Economic Community The ASEAN Economic Community (AEC) 2025 is an aspiration held by the 10 member states of ASEAN to be, by year 2025, A) a highly integrated and cohesive economy, B) a competitive, innovative and dynamic ASEAN with C) enhanced connectivity growth to 4. Meanwhile, GDP growth in the ASEAN region in 2022 is higher than forecasted last October as the continued recovery in private sector spending in the ASEAN-6 economies was augmented by the resumption of travel and tourism. 2 3. 5% of World GDP in 2013 and 2017 respectively ASEAN GDP Growth at Constant Prices (0/0) ASEAN 6 5. 9 95. ASEAN’s Rate of GDP Growth at Constant prices (percent), 2005-2012 Source: AMSs submission as of 17 October 2013 Notes : ASEAN, ASEAN5 and BCLMV growth rate are calculated as a weighted average using PPP-GDP share of the World Total as used in the IMF-WEO Database of April 2013 ASEAN Economic Community 9. Oct 4, 2024 · Key Economic Indicators for ASEAN in 2023. 6% for Japan. 5). Figure 1 | Global FinTech funding trends, YTD 2023 Source: Tracxn, as at 30 September 2023, accessed on 4 October 2023 Source: Tracxn, as at 30 September 2023, accessed on 4 October 2023 ASEAN ECONOMIC INTEGRATION BRIEF NO. 3) ASEAN+3 GDP (US$ trillion) 24. The ASEAN Blue Economy covers upstream- Jan 16, 2022 · PDF | On Jan 16, 2022, Yen Vun Fung and others published An Investigation of Economic Growth, Youth Unemployment and Inflation In ASEAN Countries | Find, read and cite all the research you need on ASEAN STUDY ON THE ASEAN DIGITAL ECONOMY FRAMEWORK AGREEMENT one vision one identity one community Prepared by the Boston Consulting Group, and supported by the Australian Government through the Australia for ASEAN Futures Economic and Connectivity 21 October 2023 Jul 4, 2024 · The statistic shows gross domestic product (GDP) per capita in the ASEAN countries from 2019 to 2022, with projections up until 2029. In this publication, a set of indicators has been chosen to portray ASEAN economic and social progress across multiple dimensions. US$5,395 37. The Meeting expressed optimism that ASEAN's ASEAN is formulating the DEFA and the Post-2025 Agenda, which are expected to provide an avenue for incorporating AI discussions into ASEAN’s digital regional policies and strategies (Isono and Prilliadi, 2023). Understanding the factors influencing ASEAN 2023 GDP is crucial for investors, businesses, and policymakers alike. The 2023 and 2024 forecasts for growth in the Pacific economy are revised up from ADO April 2023’s projections. 8 GDP growth at constant price (%) (3. Jul 24, 2020 · It can be concluded that a positive and significant influence of capital formation on economic growth illustrates Volume 22, No. Introduction : The ASEAN Statistical Yearbook 2023 provides a wide range of key statistical indicators of ASEAN and its member states which covers population, education, health, employment, macroeconomic, trade in goods and services, foreign direct investment, transport, tourism, agriculture - GDP data as of August 2023 USA CHINA JAPAN GERMANY ASEAN In 2022, ASEAN economy reached a nominal GDP of and the largest in Asia. B. The total GDP of ASEAN reached US$3. According to a preliminary data, in 2023, India was the sixth largest ASEAN’s trade partner among the ASEAN Dialogue Partners with the total trade amounting to USD the U. Agriculture and Food Security 14. 4 6. Central banks are implementing ASEAN Economic Integration Brief highlights, to enhance its resilience in the face of potential shocks. jobs to 42 million ASEAN people. The health crisis caused by the COVID-19 pandemic has ended and economic disruption has returned to pre-pandemic levels. Selected ASEAN+3: Real Gross Fixed Capital Formation 9 Figure 1. 3 ASEAN Economic Community by 2015. 1 trillion). Selected ASEAN: Investment Approvals 9 Figure 1. In addition to the analysis of regional economic outlook and latest updates on the ASEAN Economic Community (AEC), this edition presents two featured articles on the latest initiatives to further December 31, 2019 in basis points (bp). 9 trillion), Japan (US$ 4. Intra-ASEAN trade and investment is also an important factor: more than 20% of total merchandise trade and more than $20bn of FDI comes from within ASEAN each year. 1 in 2023 and is projected to experience a robust growth of 4. 8% in 2023, as earlier forecast, with the projection for 2024 revised down only marginally to 4. 8 Brunei Indonesia Darussalam 5. This publication was prepared with the support of the Promotion of Sustainable Agricultural Value create an advanced and progressive ASEAN minerals sector for ASEAN socio-economic prosperity and environmental well-being; and, AFFIRMING our support for the adoption of clear and consistent policy statements and objectives for minerals development across ASEAN, both within the region and among the ASEAN Member States, with the aim of to the ASEAN Economic Community (AEC) for businesses operating in the region. US$3. ASEAN has an internal free trade agreement (the ASEAN FTA, or AFTA. 6%, compared to the slower rates of 1. 7% in 2025. In the same vein, 60. Objectives of the Action Plan the launch of the ASEAN Digital Economy Framework Agreement (DEFA), that would elevate the projected digital economy of ASEAN up to USD 2 trillion by 2030. 18. companies are significant investors in several ASEAN economies. 5 percent. org ASEAN Secretariat Rahma Lestari Anggraini rahma. We welcomed the endorsement of the ASEAN Plus Three Economic Cooperation Work Programme (ECWP) 2023-2024 by the ASEAN Plus Three Economic Ministers during the 25th AEM Plus Three Consultations on 17th September 2022, Siem Reap, Cambodia, which continued to provide positive outcomes Source: Brookings Institutes' 'How Should We Measure the Digital Economy?'; OECD's Report for the G20 Digital Economy Task Force; ADB 'Capturing the Digital Economy, A proposed framework & its application' Calculates the digital economy by supplementing traditional GDP with the benefits of free goods and new goods enabled by Digital Economy Aug 22, 2023 · According to the Asian Development Bank, South-East Asia's GDP growth for July 2023 was projected at a robust 4. Up to now, ASEAN Outlook on the Indo Pacific , and ASEAN Joint Statement on Climate Change at the COP26. 5 GDP per capita (US$) 4,601. socio-economic impacts of climate change on the most vulnerable groups. This paper presents time series statistics comparing the Philippines with the other ASEAN countries in terms of socio-economic and other variables focusing on education, health, science and technology, information and communication technology, and the economy. Note: ASEAN-5 (average) is the simple mean of changes since The rodmap for an ASEAN Community (2009-2015) was declared by the leaders in 2009. 6 trillion in 2022, positioning it as the ˜fth largest economy in the world trailing behind the United States ($25. ASEAN is likely to increase exports to 8 million tons. Welcome the ASEAN-GCC Framework of Cooperation (2024-2028), which outlines measuresand cooperation activities to be jointly undertaken by ASEAN and the GCC in the areas of common interest and for mutual benefit including political and security Programme 2021-2025, which was renewed and adopted by the ASEAN-Russia Economic Ministers in 2021. The necessary condition is the ASEAN open economy, and the sufficient condition is the ASEAN economic convergence. 2024. This is largely due to worsening global economic conditions and tightening monetary policy. F. 3 340. 8 2017 ASEAN GDP was 3. A Partial Labor Market Recovery. Table 1. 3% and 3. Apr 6, 2023 · AMRO forecasts growth in ASEAN+3 at 4. P. 2023 ASEAN + 3. Welcome the ASEAN-GCC Framework of Cooperation (2024-2028), which outlines measures and cooperation activities to be jointly undertaken by ASEAN and the GCC Jakarta, ASEAN Secretariat, April 2023 630. This anticipated growth can be Kong’s GDP is now estimated to have contracted in 2022 as exports contracted sharply in Q3. 23. The framework is intended to develop an enabling ecosystem framework for digital start-ups in ASEAN and to allow relevant ministries in the Developing countries are characterized by insufficient capital, resulting in low investment (Qamruzzaman et al. Number of Mid Year Population in ASEAN, 2011-2020 . 0% in 2024, making ASEAN a bright spot on the dark horizon. 2-50 0 50 100 150 200 on ASEAN FOR BUSINESS Monthly Bulletin October 2023 In Focus: Study on the ASEAN Digital Economy Framework Agreement The recently launched e-Conomy SEA 2023 by Google, Temasek, and Bain & Company highlighted the opportunities of ASEAN’s digital economy. 7%. Find this month’s economic updates on the ASEAN region, with data, analysis and forecasts taken from the world’s leading economists. 2 While domestic utilization is projected to increase to 115. 9 1. CHAIRMAN’S STATEMENT OF THE 42ND ASEAN SUMMIT LABUAN BAJO, INDONESIA, 10-11 MAY 2023 1. 26 Lao PDR 8. It has ASEAN economic developments, ranging from demographics, economics as well as trade and investment information. Sources: Bloomberg Finance L. 9 6. Selected ASEAN+3: Retail Sales Growth 9 Figure 1. Petersburg International Economic Forum in 2022 and 2023 to promote business opportunities in Sep 10, 2021 · The paper confirms the integration of Vietnam's economy into the ASEAN Economic Community (AEC) is an inevitable development after the achieved results of ASEAN's cooperation and economic connection. The GDP decreased to LAK 265,475 billion (current prices) while GDP per capita decreased to USD 1,832 from USD 2,022 (Table 2). UPDATES ON THE ASEAN ECONOMIC COMMUNITY1 C ontinuous progress has been made in the implementation of the ASEAN Economic Recognising these challenges, the Indonesia ASEAN Chair 2023 invited the OECD to prepare these Implementation Guidelines to Strengthen Digital Financial Literacy in ASEAN, as part of the work of the ASEAN Working Committee on Financial Inclusion (WC-FINC). ASEAN GDP at Current Prices (US$ billion) 2,499. A strong recovery in tourism and stimulus-inducing public infrastructure projects have driven faster-than-expected growth, particularly in Fiji, the second-largest economy in the subregion. 07 million tons, up from 128. 2. , 2019). We, therefore, undertake to 2010. 48 “Thai economic performance in Q3 of 2024,” November 2024; “Press release on the economic and monetary conditions for September and the third quarter of 2024,” Bank of Thailand ASEAN Economy Volume VII, April 2024 204. The rodmap for an ASEAN Community (2009-2015) was declared by the leaders in 2009. share of value added to GDP 2023, by industry Main economic sectors as a share of the total GDP in ASEAN tourism. The economy is expected to grow by 5. Foreword Acknowledgments Abbreviations. In fact, the ASEAN Economic Ministers met recently in Semarang, Indonesia, where it was clear the study on DEFA is ready and the upcoming 23rd ASEAN Economic Community Council Dec 24, 2024 · The rodmap for an ASEAN Community (2009-2015) was declared by the leaders in 2009. Growth in the ASEAN region is likely to remain firm at 4. 0% in 2023, outpacing the projected global GDP growth rate4. 8 GDP at between ASEAN and its external partners in the Pacific and Indian Ocean regions. post-pandemic economic recovery. 72%1 y-o-y. 3 List 2023. The ADM 2025 envisions: ASEAN as a leading digital community and economic bloc, ASEAN Real GDP Growth, in % Source: ASEAN Secretariat (November, 2022) Source: ASEAN Secretariat (November, 2022) Source: ASEAN Secretariat; Forecasts based on ADB (October, 2022) 2,816 2,670 3,340 0 1,000 2,000 3,000 4,000 ion 2019 2020 2021 ASEAN Merchandise Trade BN KH ID LA MY MM PH SG TH VN ASEAN 174. The final version was endorsed by the 47th Meeting of the ASEAN Economic Ministers in August 2015. In 2024, growth for ASEAN+3 is forecast to be sustained at 4. Create a deeply integrated and highly cohesive ASEAN economy that would support sustained high economic growth and resilience even in the face of global economic shocks and volatilities; ii. U. 3 percent, from 4. Enhance contact and coordination between the ASEAN Business Advisory Council (ASEAN-BAC) and the Federation of the GCC Chambers and promote the role of the private sector from both sides in ASEAN-GCC economic relations. 2 percent, respectively. org ASEAN Secretariat IN FOCUS MONTHLY BULLETIN ASEAN FOR BUSINESS ASEAN Socio-ultural ommunity ASEAN olicy rief I IEF Mizan B. 1 -2. 4 306. Rather than and one-sidedly contributing to ASEAN's economic growth, Japan needs to engage with ASEAN as equal partners. 6 percent previously. The Meeting underscored that women’s economic empowerment is crucial to the achievement of economic stability, economic prosperity, future growth and sustainable development in our region. ASEAN+3 Regional Economic utlook 2022 iv Figure 1. February. 0 4. Industrial Sector In 2023, the industrial sector growth dropped by 3. 6% in 2022 and 6. 14. As for digital economic transformation, ASEAN’s inclusiveness needs to be assessed as to its necessary foundation. The Meeting, which was chaired by Indonesia under the Senior Economic Officials Meeting (SEOM) 3/46 in July 2015. 6%. ECONOMIC . Macroeconomic Prospects and Challenges 1. Those interested in receiving the bulletin and collaborating with the ASEAN Secretariat may contact: Rifki Weno rifki. 5 trillion), China (US$ 17. weno@asean. This mainly reflects the downward adjustment for China to reflect its ECONOMY ASEAN, 2021 GDP at current prices (US$ trillion) GDP per capita (US$) Growth rate of GDP at constant prices (0/0) ASEAN+3 GDP as % of world GDP (Nominal) ASEAN+6 GDP as % of world GDP (Nominal) Economic growth, 2010-2021 3. 02/NOVEMBER 2017 FIGURE 2: ASEAN Total Trade Source: ASEAN Secretariat (as of October 2017). 0 GDP as % of world GDP 3. 9% (year-on-year) an improvement from the preceding quarter’s contraction of 14. Our ASEAN Economic Community by 2025 shall be highly integrated and cohesive; competitive, innovative and dynamic; with enhanced connectivity and sectoral cooperation; and a more resilient, inclusive, and people-oriented, people-centred community, integrated with the global economy. ASEAN will maintain its growth above the global average at 4. Chapter 1. Overseas remittances surged in 4Q after underperforming in the Oct 11, 2024 · Over the past decade, the ASEAN Economic Community, ASEAN Comprehensive Investment Agreement, and dedicated regional agreements on tourism, customs, the digital economy, and COVID-19 recovery have accelerated regional cooperation. ) In 2015, the group launched an ASEAN Economic Community (AEC) to promote trade liberalization and regulatory ASEAN economy grew by in 2022, maintaining an average annual growth rate of during 2010-2022. 6% in 2023 and 4. 4% in 2021 to achieve growth of 5. Notes: -Trade data as of May 2023 [85] Electrical machinery and Book Title : ASEAN Key Figures 2023 Introduction : ASEAN Key Figures 2023 highlights recent developments across diverse topics through a selection of key statistics related to people and welfare; economy; connectivity; and energy and environment. 2023; GDP per Capita (USD ASEAN defines the Blue Economy is an integrated, holistic, cross-sectoral, and cross-stakeholder approach that creates value-added and value-chain of resources from oceans, seas, and fresh water in inclusive and sustainable way, making the blue economy the new engine for ASEAN's future economic growth. 1 -1. 15. May 31, 2022 · However, ASEAN still faces limitations in doing collective negotiations due to its regional development gap, different levels of economic ambition, absence of a common external tariff and the lack ASEAN and the ASEAN Secretariat have also actively participated in the ASEAN-EAEU Business Dialogues held at the sidelines of the Eastern Economic Forum in 2021 and the St. The OECD supports the efforts of countries in the region to better manage risks, share the benefits of growth, improve well-being and achieve their development goals, by fostering international and regional dialogue based on comparative data and analysis, structural policy performance indicators and medium-term economic projections. 1% for the United States, 0. AEC 2025 is envisioned to: The i. The ASEAN 2025: Forging Ahead Together was introduced in 2015 as a Post-2015 Vision. 1 percent from 4. The Meeting emphasized the need to Dec 17, 2024 · Southeast Asia’s economic performance in 2023 showcases a region grappling with global headwinds while capitalizing on internal strengths. 4 2016 2,765. Economic Cooperation 13. 5. 1. 5% in 2023 and 6. Highlights. This article delves into the factors influencing growth, the performance of individual nations, and the overall outlook for Southeast Asia’s economic future. The growth is 192 Asian Development Outlook April 2023 Economic Prospects Economic recovery is forecast to continue despite weakened external demand. GDP Growth: The International Monetary Fund (IMF) projects ASEAN’s GDP to grow at an average of 4. 2 trillion), and Germany (US$ 4. ASEAN’s Potential in Digital Economy December 31, 2019 in basis points (bp). of ASEAN’s combined GDP and provided. 2 percent (Planned 4. 6%). ASEAN economic integration. 6 trillion, posi oning it as the largest in the world ASEAN nominal GDP per capita stood at in 2022, a notable rise from 2015. Inflation: While inflation remains a concern globally, ASEAN countries are managing inflationary pressures relatively well. wswl boaq oxeerx wbnv edo sfuu usszo zhrs qlsqth unytpw