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NEWS UPDATES Asean Affairs   22 October 2013  

ASEAN GDP remains robust, backed by services

The latest statistics revealed that ASEAN economies remained buoyant as nominal Gross Domestic Product (GDP) grew by 5.7 percent at US$ 2.31 trillion in 2012. The continued growth of the region is reflected in the improved GDP per capita at US$ 3,751 from US$ 3,591 in 2011. Most recent figure showed that averaged income of ASEAN5 (Indonesia, Malaysia, Philippines, Singapore and Thailand) has increased by 5.1 percent during the first semester of this year, driven by favorable economic developments in Philippines and Thailand.
On the other hand, ASEAN’s real GDP in 2012 advanced by 5.7 percent, higher by 1.0 percentage point than in 2011. ASEAN5 rate of growth has outpaced the CLMV country group at 5.8 percent and 5.3 percent, respectively.
In terms of comparable international exchange rate, based on Purchasing Power Parity (PPP), ASEAN’s GDP in 2012 reached PPP$ 3.62 trillion while ASEAN’s GDP per capita amounted to PPP$ 5,869
Services sector, catalyst for economic growth
Over time, the region’s service sector has become a catalyst for economic growth, as the agriculture sector has decreased over the last seven years. In 2012, services sector contributed the highest share to GDP in all ten Member States, ranging from 35 percent to more than 60 percent of GDP. After ASEAN5’s economy has gradually shifted to the tertiary sector, the BCLMV country group is currently developing their secondary and tertiary sector.

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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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