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NEW UPDATES Asean Affairs  20 August 2015  

ASEAN GDP Grows by 4.6%

ASEAN Secretariat News

JAKARTA, 19 August 2015- The latest data from ASEAN Statistics revealed that ASEAN economies remained resilient in 2014 amidst uncertainty in the global economic environment. The real Gross Domestic Product (GDP) grew by 4.6 percent to reach US$ 2.57 trillion. The sustained growth in GDP led to an increase in the GDP per capita from US$ 3,908 in 2013 to US$ 4,130 in 2014. The services sector continued to be the biggest contributor to growth at 50.1 percent of the region’s total GDP in 2014.

In the case of ASEAN6 (Brunei Darussalam, Indonesia, Malaysia, Philippines, Singapore and Thailand), all countries except Malaysia have experienced a slowdown in their growth, leading to a decrease in the averaged GDP growth from 5.1 percent in 2013 to 4.3 percent in 2014. In contrast, the real GDP growth of CLMV countries (Cambodia, Lao PDR, Myanmar, and Viet Nam) advanced by 6.6 percent in 2014, higher by 0.4 percentage point compared to the 2013 level.

In terms of Purchasing Power Parity (PPP) on the one hand, ASEAN’s GDP reached PPP$ 6.64 trillion in 2014, constituting 6.1 percent of World GDP in PPP. On the other hand, ASEAN’s GDP per capita stood at PPP$ 10,677 which is equivalent to approximately two-thirds of the World GDP per capita of PPP$ 15,189.

As one of the fastest growing regions in the world, the share of ASEAN GDP in the world has increased from 3.18% in 2013 to 3.33% in 2014. The size of the ASEAN GDP in 2014 stood at approximately 15% of the US economy, compared to only 7% in 2004.

A summary table of these indicators is available here (link the snapshot file). More detailed figures of ASEAN trade are available here and FDI are available here.

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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