If ASEAN were a single country, it would be the seventh-largest economy in the world. With a combined GDP of $2.5 trillion, the region is already an economic powerhouse and is set to grow to become the equivalent of the world’s fourth-largest economy by 2050. By many other measures, the ASEAN region is already a player of global significance.
- As leaders and delegates from the 10 member states of the Association of Southeast Asian Nations (ASEAN) meet in Manila, it is important to know the facts and figures. about the 50-year-old organization.
- ASEAN is the fourth-largest exporting region in the world, trailing only the European Union, North America and China/Hong Kong. The number of consumer households in ASEAN is expected almost to double by 2025
- Already some 67 million households in ASEAN countries are part of the “consuming class”, with incomes exceeding the level at which they can begin to make significant discretionary purchases. That number could almost double to 125 million households by 2025, making ASEAN a pivotal consumer market of the future. ASEAN is home to 227 of the world’s largest companies
Indonesia is the biggest economy in Asian
The Philippines, whose gross domestic product (GDP) numbers $292 billion, is tied with Singapore at the fourth place when it comes to the size of the economy. Among Asian member states, Indonesia has the biggest economy with $819 billion, followed by Thailand with $395 billion and Malaysia with $296 billion.
Laos has the fastest economic growth
With a growth rate of 7.4 percent in 2015, Laos grew the fastest in terms of the economy among ASEAN member states.The Philippines economy, in contrast, grew 5.9 percent, which puts it behind Myanmar, Cambodia and Vietnam.
Vietnam has the fastest growing population
Vietnam may soon overtake the Philippines in terms of population, as it has the highest population growth rate among Asian member states with 2.1 percent. And while Brunei may have the smallest population, it has the third-fastest population growth rate at 1.6 percent just behind Singapore with 1.8 percent.
Indonesia has the highest population
Indonesia is the most populous country in Asian with over 257 million people, followed by the Philippines with 100 million people. Vietnam places third, with a population of 91 million. At last, place in Brunei with the smallest population numbering only 423,188.
The Philippines has the highest unemployment rate
The unemployment rate in the Philippines is the highest among Asian countries at 6.3 percent. Indonesia is a close second with 6.2 percent. Thailand and Cambodia have the lowest unemployment rates among member states with just 0.2 percent each.
Singapore has the highest percentage of internet users
More than 82 percent (around 4.4 million) of the entire population of Singapore are internet users, the highest in the Asian region. In the Philippines, 40.7 percent of the population (around 40 million) are internet users, putting the country in fifth place in terms of percentage of internet users.
Thailand had the most number of tourist arrivals
Nearly 30 million tourists visited Thailand in 2015, making it the most popular among Asean countries. Malaysia places second with more than 25 million tourist arrivals. The Philippines is in sixth place with 5.3 million tourists that same year, just ahead of Cambodia with 5 million tourist arrivals.