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one communityASEAN @ASEAN www.asean.orgASEAN

ASEAN: A Community of Opportunities

2017

ASEAN Economic Community Chartbook2017

The ASEAN SecretariatJakarta

The Association of Southeast Asian Nations (ASEAN) was established on 8 August 1967. The Member States are Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand and Viet Nam. The ASEAN Secretariat is based in Jakarta, Indonesia.

For inquiries, contact:The ASEAN SecretariatCommunity Relations Division (CRD)70A Jalan SisingamangarajaJakarta 12110, IndonesiaPhone : (62 21) 724-3372, 726-2991Fax : (62 21) 739-8234, 724-3504E-mail : [email protected]


Catalogue-in-Publication Data

ASEAN Economic Community Chartbook 2017Jakarta, ASEAN Secretariat, November 2017

339.9591. ASEAN – Statistics – Economics 2. GDP – Trade – FDI

ISBN 978-602-6392-84-8

The text of this publication may be freely quoted or reprinted, provided proper acknowledgement is given and a copy containing the reprinted material is sent to the Community Relations Division (CRD) of the ASEAN Secretariat, Jakarta.

General information on ASEAN appears online at the ASEAN Website: www.asean.org

Copyright Association of Southeast Asian Nations (ASEAN) 2017.All rights reserved.

http://www.asean.org

iii

1 ASEAN in the Global Economy 11.1. Total Population . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.2. Gross Domestic Product (GDP), at current price . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21.3. GDP per capita, at current price . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31.4. GDP per capita, at PPP dollar . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41.5. Trade in Goods. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51.6. Foreign Direct Investment (FDI) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6

2 ASEAN Economy 72.1. Annual GDP Growth . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 72.2. GDP per capita, at current price . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 82.3. Consumer Price Index in ASEAN-6 (base year = 2007) . . . . . . . . . . . . . . . . . . . . . . . . . . . 92.4. Consumer Price Index of Transport and Housing in ASEAN-6 (base year = 2007). . . . . . . . . . . . . . 102.5. Rate of Change in ASEAN Member States Currencies-to-US Dollar, 2015-2016 . . . . . . . . . . . . . . 112.6. ASEAN Member States Currencies-to-US Dollar (period average) . . . . . . . . . . . . . . . . . . . . . 12

3 ASEAN Trade Performance 133.1. Trade in Goods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 133.2. Trade in Goods as Share of GDP. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 143.3. Intra- and Extra-ASEAN Trade in Goods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 153.4. ASEAN Member States Exports of Goods by Destination, 2016 . . . . . . . . . . . . . . . . . . . . . . 163.5. ASEAN Member States Imports of Goods by Origin, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . 173.6. Top Ten Export Commodities, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 183.7. ASEAN Top Ten Import Commodities, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 193.8. Intra-ASEAN Top 5 Trade Commodities, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 203.9. Extra-ASEAN Top 5 Trade Commodities, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21

4 ASEAN Trade with Dialogue Partners 224.1. Total Trade in Goods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 224.2. Share to ASEAN’s Total Trade in Goods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 234.3. Exports of Goods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 244.4. Imports of Goods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25

TABLE OF CONTENTS

iv

4.5. Trade in Goods Balance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 264.6. Top 5 Trade Commodities with Australia-New Zealand, 2016 . . . . . . . . . . . . . . . . . . . . . . . . 274.7. Top 5 Trade Commodities with Canada, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 284.8. Top 5 Trade Commodities with China, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 294.9. Top 5 Trade Commodities with EU-28, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 304.10. Top 5 Trade Commodities with India, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 314.11. Top 5 Trade Commodities with Japan, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 324.12. Top 5 Trade Commodities with Republic of Korea, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . 334.13. Top 5 Trade Commodities with Russia, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 344.14. Top 5 Trade Commodities with USA, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35

5 ASEAN Trade in Services 365.1. Trade in Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 365.2. Exports of Services by Broad Headings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 375.3. Imports of Services by Broad Headings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 385.4. Intra-ASEAN Exports of Services by Broad Headings . . . . . . . . . . . . . . . . . . . . . . . . . . . . 395.5. Intra-ASEAN Imports of Services by Broad Headings . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40

6 Investment in ASEAN 416.1. Inward Flows of FDI, Extra and Intra-ASEAN . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 416.2. Inward Flows of FDI by ASEAN Member States (ASEAN-6) . . . . . . . . . . . . . . . . . . . . . . . . 426.3. Inward Flows of FDI by ASEAN Member States (CLMV) . . . . . . . . . . . . . . . . . . . . . . . . . 436.4. Inward Flows of FDI by Source Countries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 446.5. Intra-ASEAN Inward Flows of FDI by Host Countries, 2016 . . . . . . . . . . . . . . . . . . . . . . . . 456.6. Inward Flows of FDI by Component . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 466.7. Inward Flows of FDI by Activity, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47

7 Other Developments in the ASEAN Economic Community 487.1. Internet Subscribers/Users and Cellular Phone Density, per 100 persons . . . . . . . . . . . . . . . . 487.2. Ratio of Paved Road to Total Road Length . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 497.3. Visitor Arrivals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50

v

AseAn economic communityChartbook 2017

INTRODUCTION

The ASEAN Economic Community (AEC) Chartbook 2017, provides statistical updates on the various dimensions of the ASEAN economic community based primarily on data submitted by the ASEAN Member States (AMS). It covers the period of 2007, the year the Declaration on the ASEAN Economic Community Blueprint was signed, to 2016.

The AEC Chartbook, now in its 11th edition, aims to walk its readers through the different developments taking place in the ASEAN region ranging from demography, economy, international trade, investment to infrastructure, in eight sections as follows:

CONTENTS

1 ASEAN in the Global Economy situates the region in the global economy in terms of its population, economic size and growth, trade, and investment.

2 ASEAN Economy looks into key macroeconomic trends and developments within the region.3 ASEAN Trade Performance examines the trends of exports and imports of goods, composition and

direction of trade within the region and with the rest of the world.4 ASEAN Trade with Dialogue Partners maps the region’s trade position and the concentration and

dependencies of traded commodities with its dialogue partners 5 ASEAN Trade in Services describes the trends of export and import of services within ASEAN and

with the rest of the world. 6 Investment in ASEAN highlights the inflows of foreign direct investment into the region.7 Other Developments in the ASEAN Economic Community observes other important elements

characterising the regional economy i.e.information and communications technology, infrastructure, and tourism.

CAVEAT

The charts presented in this publication are based on data available in the various databases being maintained by the ASEAN Secretariat as submitted through relevant ASEAN working groups and/or data sharing schemes and/or as gathered from official publications and websites of the AMS and international organisations, as of 31 October 2017.

Some data were derived/estimated using basic statistical approaches employed by the ASEAN Secretariat. Unless otherwise stated, these figures are in no way considered as official statistics, and are used only to give indicative information.

ASEAN in the Global Economy1

1

1.1. Total Population

1,3831,309

634

323259

206 194 184 154 143 127 122

0

200

400

600

800

1,000

1,200

1,400

1,600

China India ASEAN USA Indonesia Brazil Pakistan Nigeria Bangladesh Russia Japan Mexico

In mi

llion p

erso

ns

2007 2015 2016

Source: ASEAN Secretariat and IMF World Economic Outlook April 2017

In 2016, ASEAN’s population reached 634 million persons and was the third largest in the world, after China and India. Indonesia’s population accounted for about 40.8% of the region’s total population.


2

1.2. Gross Domestic Product (GDP), at current price

18,569

11,218

4,939

3,467

2,629

2,559

2,463

2,256

1,851

1,799

0 5,000 10,000 15,000 20,000

USA

China

Japan

Germany

United Kingdom

ASEAN

France

India

Italy

Brazil

In billion US dollar

2016

2015

2007

USA24.7%China

14.9%

Rest of the World31.3%

Share to the World GDP, 2016

Brazil, 2.4%Italy, 2.5%India, 3.0%France, 3.3%ASEAN, 3.4%

United Kingdom,3.5%Germany, 4.6%

Japan, 6.6%


In 2016, ASEAN remained as the sixth richest economy in the world. ASEAN was also third among the Asian countries, after China and Japan.


3

1.3. GDP per capita, at current price

2007 20

15 2016

105,825

103,199

63,628

79,242

84,904

70,392

34,084

67,079

60,756

62,562

69,167

60,787

67,505

59,629

47,955

57,436

58,641

53,744

39,224

52,963

2,373

4,034

In US dollar


ASEAN GDP per capita increased by 70.0% from US$2,373 in 2007 to US$4,034 in 2016. Singapore was one of the top ten countries with the highest GDP per capita in the world.


4

1.4. GDP per capita, at PPP dollar

2007 20

15 2016

117,000

127,660

92,435

104,003

70,346

95,151

64,466

87,858

73,237

77,085

66,422

71,887

61,899

69,249

47,692

69,231

73,118

67,871

51,335

59,561

7,065

15,164

In PPP dollar


Note: Purchasing Power Parity (PPP) dollar takes into account the differences in the purchasing power of the US dollar in the countries. PPP $1 in a country, say Cambodia, has the same purchasing power as PPP $1 in all other countries in the world.

The region’s GDP per capita (PPP) increased by 114.6% from PPP$7,065 in 2007 to PPP$15,164 in 2016. Singapore and Brunei Darussalam were among the top 5 economies with the highest GDP per capita (PPP) in the world.


5

1.5. Trade in Goods

3,706

3,686

2,395

2,236

1,252

1,074

1,073

1,064

1,045

902

0 1,000 2,000 3,000 4,000 5,000

China

USA

Germany

ASEAN

Hong Kong

Japan

France

United Kingdom

Netherlands

Italy

Total Trade

2016

2015

2007


China11.5%

USA11.5%


Share to the World Total Trade, 2016

Netherlands2.8%

Rep. of Korea3.2%

United Kingdom3.3%

France3.3%

Japan3.3%

Hong Kong3.9%

ASEAN6.9%

Germany7.4%

Source: ASEAN Secretariat and UNComtrade

In 2016, ASEAN’s total trade stood at US$2.2 trillion, accounting for 6.9% share of the world’s total trade, positioning it at the fourth position after China (11.5%), USA (11.5%) and Germany (7.4%).


6

1.6. Foreign Direct Investment (FDI)

391

254

134

108

98

92

59

59

48

45

0 100 200 300 400

USA

United Kingdom

China

Hong Kong

ASEAN

Netherlands

British Virgin Islands

Brazil

Australia

Cayman Islands

Total FDI Inward Flows

2016

2015

2007


USA22.4%

United Kingdom 14.5%

Rest of the World 26.3%

Share to the World Total FDI Inward Flows, 2016

Cayman Islands2.6%

Australia2.8%Brazil3.4%

British Virgin Islands3.4%

Netherlands5.3%

ASEAN5.6%

Hong Kong6.2%

China7.7%

Source: ASEAN Secretariat and UNCTAD

In 2016, ASEAN with a share of 5.6% to the world total FDI inward flows was the fifth biggest recipient of FDI in the world after USA (22.4%), United Kingdom (14.5%), China (7.7%) and Hong Kong (6.2%).

ASEAN Economy2

7

2.1. Annual GDP Growth

0.6

10.2

6.3 6.0 6.3

12.0

6.6

9.1

5.4

7.1 6.4

8.7

6.6

-2.5

6.9

5.0

7.0

4.2

5.76.9

2.03.2

6.2

4.6

6.1

4.8

-4

-2

0

2

4

6

8

10

12

14

Brun

ei Da

russ

alam

Camb

odia

Indon

esia

Lao P

DR

Malay

sia

Myan

mar

Philip

pines

Sing

apor

e

Thail

and

Viet

Nam

ASEA

N-6

CLMV

ASEA

N

2007 2015 2016In percent

Source: ASEAN Secretariat

Note: ASEAN-6 = Brunei Darussalam, Indonesia, Malaysia, Philippines, Singapore, Thailand; CLMV = Cambodia, Lao PDR, Myanmar, Viet Nam

The region’s GDP grew at 4.8% in 2016, lower by around 1.9 percentage points from 2007. GDP growth in CLMV remained higher than in ASEAN-6 during the same period.

ASEAN Economy2

8

2.2. GDP per capita, at current price

26,493

1,2663,600 2,402

9,464

1,297 3,017

52,963

6,0342,138

4,8331,804 4,034

0

10,000

20,000

30,000

40,000

50,000

60,000Br

unei

Daru

ssala

m

Camb

odia

Indon

esia

Lao P

DR

Malay

sia

Myan

mar

Philip

pines

Sing

apor

e

Thail

and

Viet

Nam

ASEA

N-6

CLMV

ASEA

N

2007 2015 2016In US dollar


Member States’ GDP per capita varied widely. In 2016, GDP per capita in Singapore and Brunei Darussalam reached more than US$50,000 and US$25,000, respectively, while GDP per capita in Cambodia and Myanmar stood at US$1,266 and US$1,297, respectively. Indonesia, Malaysia, Philippines and Thailand’s GDP per capita ranged from US$3,000 to US$9,500.

ASEAN Economy2

9

2.3. Consumer Price Index in ASEAN-6 (base year = 2007)

Brunei Darussalam

Indonesia

Malaysia

Philippines

Singapore

Thailand

100

110

120

130

140

150

160

170

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Overall

Brunei Darussalam

Indonesia

Malaysia

Philippines

Singapore

Thailand

100110120130140150160170180190200210

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Food


In 2016, overall prices in the ASEAN-6 grew between 0.2% and 3.5%. Increase in food prices was relatively higher in Indonesia, Malaysia, Philippines and Thailand, ranging from almost 6% to 0.2% during the same year.

ASEAN Economy2

10

2.4. Consumer Price Index of Transport and Housing in ASEAN-6 (base year = 2007)

Brunei Darussalam

Indonesia

Malaysia

Philippines

Singapore

Thailand90

100

110

120

130

140

150

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Transport

Brunei Darussalam

Indonesia

Malaysia

Philippines

Singapore

Thailand

90

100

110

120

130

140

150

160

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Housing


Transport prices in ASEAN-6 countries declined, except Philippines which slightly grew by 0.3%. Housing prices in Brunei Darussalam, Malaysia and Singapore experienced a relatively high increase ranging from 4.0% to 6.1%.

ASEAN Economy2

11

2.5. Rate of Change in ASEAN Member States Currencies-to-US Dollar, 2015-2016

1.94.3

-1.1 -0.03

4.1 4.01.2 0.5

3.14.8

-5

0

5

10

15

20

25

Brun

ei Da

russ

alam

Camb

odia

Indon

esia

Lao P

DR

Malay

sia

Myan

mar

Philip

pines

Sing

apor

e

Thail

and

Viet

Nam

2015 2016

In percent


Note: A positive (+) rate of change connotes currency depreciation while a negative (-) rate of change indicates currency appreciation

Except Indonesia and Lao PDR, all other ASEAN Member States’ currencies depreciated vis-à-vis the US dollar between 2015 and 2016. The Indonesian Rupiah appreciated by 1.1% in 2016.

ASEAN Economy2

12

2.6. ASEAN Member States Currencies-to-US Dollar (period average)

1.4

4.1

1.4

0

1

2

3

4

5Br

unei

Daru

ssala

m

Malay

sia

Sing

apor

e

US do

llar

2007 2015 2016

46.4

35.3

05

101520253035404550

Philip

pines

Thail

and

US do

llar

2007 2015 2016

4,233

13,328

8,129

1,182

22,719

0

5,000

10,000

15,000

20,000

25,000

Camb

odia

Indon

esia

Lao P

DR

Myan

mar

Viet

Nam

US do

llar

2007 2015 2016


Between 2007 and 2016, the Indonesian Rupiah depreciated the most vis-à-vis the US dollar to reach 13,328 per US dollar in 2016 compared to 9,164 in 2007, followed by Vietnamese Dong (from 16,120 per US dollar to 22,719) and Malaysian Ringgit (from 3.4 per US dollar to 4.1).

ASEAN Trade Performance3

13

3.1. Trade in Goods

Total Trade, 2,236

Intra-ASEAN, 516

Extra-ASEAN, 1,720

0

500

1,000

1,500

2,000

2,500

3,000

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016



In 2016, the region’s total trade in goods slightly decreased by 1.6% to US$2,236 billion from US$2,273 billion in the previous year; both extra-ASEAN and intra-ASEAN trade in good were down by 2.0% and 1.5%, respectively.


14

3.2. Trade in Goods as Share of GDP

Total Trade, 87.4

Intra-ASEAN, 20.2

Extra-ASEAN, 67.2

0

20

40

60

80

100

120

140

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

In percent


In 2016, total trade in goods accounted for 87.4% of GDP. Intra-ASEAN share to GDP remained relatively stable at 20.2%.


15

3.3. Intra- and Extra-ASEAN Trade in Goods

Intra-ASEAN25.0%

Extra-ASEAN75.0%

2007

Intra-ASEAN23.2%

Extra-ASEAN76.8%

2015

Intra-ASEAN23.1%

Extra-ASEAN76.9%

2016

In percent


In 2016, intra-ASEAN trade in goods remained stable at approximately 23% of the region’s total trade in goods.


16

3.4. ASEAN Member States Exports of Goods by Destination, 2016

24.0

25.0

8.6

23.3

49.6

29.4

29.1

14.9

29.4

25.4

9.8

0 10 20 30 40 50 60 70 80 90 100

ASEAN

Brunei Darussalam

Cambodia

Indonesia

Lao PDR

Malaysia

Myanmar

Philippines

Singapore

Thailand

Viet Nam

In percent

Intra-ASEAN

Extra-ASEAN


Lao PDR exported around 50% of its products within the region while Cambodia and Viet Nam shipped around 90% of their commodities outside the ASEAN.


17

3.5. ASEAN Member States Imports of Goods by Origin, 2016

22.1

48.3

37.3

25.7

74.3

24.6

37.7

26.2

21.5

20.3

13.7

0 10 20 30 40 50 60 70 80 90 100

ASEAN

Brunei Darussalam

Cambodia

Indonesia

Lao PDR

Malaysia

Myanmar

Philippines

Singapore

Thailand

Viet Nam

In percent

Intra-ASEAN

Extra-ASEAN


Lao PDR purchased nearly 75% of their commodity items from within the region while Viet Nam imported the least from the ASEAN countries.


18

3.6. Top Ten Export Commodities, 2016

Electrical machinery and equipment and

parts thereof; sound recorders and

reproducers, television image and sound

recorders and reproducers, and parts

and accessories of such articles

25.6%

Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof11.4%

Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes9.5% Natural/cultured pearls, precious/semi -precious stones,

precious metals, metals clad with precious metal, and articles thereof; imitation jewellery3.7%

Vehicles other than railway or tramway rolling stock, and parts and accessories thereof3.7%

Plastics and articles thereof3.2%

Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof3.1%Animal or vegetable fats and oils and their cleavage products; prepared edible fats; animal or vegetable waxes2.8%

Rubber and articles thereof2.5%

Organic chemicals2.3%

Others32.2%

In percent


Note: Based on 2-digit Harmonised System Code

Electrical-related products, nuclears-related equipments/appliances and mineral fuels/oils and their related products, were the top three commodity exports constituting almost 50% of ASEAN total exports.


19

3.7. ASEAN Top Ten Import Commodities, 2016

Electrical machinery and equipment and

parts thereof; sound recorders and

reproducers, television image and sound

recorders and reproducers, and parts

and accessories of such articles

23.4%


Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes12.1%



Iron and steel3.3%

Natural or cultured pearls, precious or semi -precious stones, precious metals, metals clad with precious metal, and articles thereof; imitation jewellery; coin3.2%

Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof2.8%

Articles of iron or steel1.9%Organic chemicals

1.9%

Others30.3%

In percent



Electrical-related products, nuclears-related equipments/appliances and mineral fuels/oils and their related products, accounted for almost 50% of ASEAN imports.


20

3.8. Intra-ASEAN Top 5 Trade Commodities, 2016

Electrical machinery and equipment and parts thereof; sound recorders and

reproducers, television image and sound recorders and reproducers, and parts and

accessories of such articles22.0%

Others38.9%

Exports

In percent

Electrical machinery and equipment and parts thereof; sound recorders and

reproducers, television image and sound recorders and reproducers, and parts and

accessories of such articles 22.6%

Others37.2%

Imports





Plastics and articles thereof 4.3%

Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 5.7%

Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 10.9%

Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 19.4%



Electrical machinery and equipment and their related products were the major intra-ASEAN export and import commodity items, accounting for 22.0% and 22.6% of the total, respectively.


21

3.9. Extra-ASEAN Top 5 Trade Commodities, 2016

Others48.2%

ExportsIn percent

Others44.9%

Imports

Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 3.4%

Natural or cultured pearls, precious or semi-precious stones, precious metals, metals clad with precious metal, and articles thereof; imitation jewellery3.8%




Iron and steel 3.9%



Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and

sound recorders and reproducers, and parts and accessories of such articles

26.6%



23.6%



The top export and import item of extra-ASEAN trade was electrical-related products, accounting for 26.6% and 23.6%, respectively.

ASEAN Trade with Dialogue Partners4

22

4.1. Total Trade in Goods

ChinaEU-28

USAJapan

Republic ofKorea Australia-

NewZealand

IndiaCanada

Russia 2007 20

15 2016

171,102

368,026

187,334

233,561

178,178

211,801

173,268

201,892

61,250

124,251

47,927

60,689

38,399

58,449

9,495

12,631

5,397

11,957

In million US dollar


In 2016, China remained as ASEAN’s top trading partner, with total trade in goods amounting to US$368 billion. Compared to 2015, ASEAN trade with Canada and China recorded the highest increase at 3.7% and 2.9%, respectively.


23

4.2. Share to ASEAN’s Total Trade in Goods

ANZ3.0%

Canada0.6%

China10.6%

EU-2811.6%

India2.4%

Japan10.7%

ROK3.8%

Russia0.3%

USA11.0%

Others46.0%

2007

In percent

ANZ2.9%

Canada0.5%

China15.7%

EU-2810.0%

India2.6%

Japan10.0%

ROK5.4%Russia

0.6%

USA9.2%

Others43.0%

2015

ANZ2.7%

Canada0.6%

China16.5%

EU-2810.4%

India2.6%

Japan9.0%

ROK5.6%Russia

0.5%

USA9.5%

Others42.6%

2016


Note: ANZ= Australia-New Zealand; ROK= Republic of Korea

China, EU-28, Japan and USA’s combined shares to ASEAN’s total trade in goods grew from 44.9% in 2015 to 45.4% in 2016.


24

4.3. Exports of Goods

ANZ3.6%

Canada0.6%

China9.0%

EU-2812.6%

India3.0%

Japan9.9%

ROK3.4%

Russia0.2%

USA12.3%

Others45.3%

2007

In percent

ANZ3.5%

Canada0.6%

China12.4%

EU-2810.9%

India3.5%

Japan8.7%

ROK3.9%Russia

0.4%

USA10.7%

Others45.5%

2015

ANZ3.3%

Canada0.6%

China12.5%

EU-2811.3%

India3.3%

Japan8.3%

ROK4.0%Russia

0.4%

USA11.4%

Others44.9%

2016



In 2016, China was the top export destination of ASEAN, accounting for 12.5% of the region’s total exports, followed by USA (11.4%), EU-28 (11.3%), and Japan (8.3%).


25

4.4. Imports of Goods

ANZ2.2%

Canada0.6%

China12.4%

EU-2810.5%

India1.6%

Japan11.7%

ROK4.2%

Russia0.4%

USA9.6%

Others46.7%

2007

In percent

ANZ2.2%

Canada0.5%

China19.3%

EU-289.1%

India1.8%

Japan11.4%

ROK7.0%Russia

0.9%

USA7.6%

Others40.4%

2015

ANZ3.3%

Canada0.6%

China12.5%

EU-2811.3%

India3.3%

Japan8.3%

ROK4.0%Russia

0.4%

USA11.4%

Others44.9%

2016



ASEAN’s imports of Chinese and Japanese-made products declined in 2016 while shipments from EU-28 and USA expanded during the same year.


26

4.5. Trade in Goods Balance

14,392

2,157

-80,989

27,26816,819

-9,819

-32,829

-2,392

50,341

-100,000

-80,000

-60,000

-40,000

-20,000

0

20,000

40,000

60,000

ANZ Canada China EU-28 India Japan Republic ofKorea

Russia USA

2007 2015 2016In million US dollar


Note: A positive value indicates trade surplus; the region is a net exporter.

In 2016, among its dialogue partners, ASEAN registered trade surpluses with Australia-New Zealand, Canada, EU-28, India, and USA while trade deficits were recorded with China, Korea, Japan and Russia.


27

4.6. Top 5 Trade Commodities with Australia-New Zealand, 2016

ExportsIn percent Imports

Articles of iron or steel4.1%

Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles8.7%



Live animals4.2%

Meat and edible meat offal4.7%

Cereals7.7%

Natural or cultured pearls, precious or semi-precious stones, precious metals, metals clad with precious metal, and articles thereof; imitation jewellery; coin8.0%


Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes

19.1%

Others39.6%

Others59.3%


Note: Based on 2-digit Harmonized System code

Mineral fuels, oils and related products were the major traded items for both exports and imports with Australia and New Zealand.


28

4.7. Top 5 Trade Commodities with Canada, 2016

ExportsIn percent

Imports

Footwear, gaiters and the like; parts of such articles 5.2%

Articles of apparel and clothing accessories, not knitted or crocheted5.9%


Articles of apparel and clothing accessories, knitted or crocheted 12.3%

Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles 6.7%

Pulp of wood or of other fibrous cellulosic material; recovered (waste and scrap) paper or paperboard 8.9%

Cereals10.9%

Fertilisers 12.4%

Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders

and reproducers, and parts and accessories of such articles 24.1%

Others44.8%

Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof

13.6%

Others47.6%



Exports to Canada were mainly electrical machinery/equipment and articles of apparel and clothing accessories. Imports were mainly of cereals, fertilizers and nuclear reactors, boilers and mechanical appliances.


29

4.8. Top 5 Trade Commodities with China, 2016

Rubber and articles thereof 4.9%




Articles of iron or steel 3.4%


Iron and steel 6.6%


Others42.6%

ExportsIn percent

Others40.2%

Imports

Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television

image and sound recorders and reproducers, and parts and accessories of such articles

28.8%

Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television

image and sound recorders and reproducers, and parts and accessories of such articles

26.8%



Electrical machinery/equipment, television image and sound recorders and reproducers, and parts thereof accounted for nearly 30% of the region’s trade with China.


30

4.9. Top 5 Trade Commodities with EU-28, 2016





Articles of iron or steel 3.4%


Iron and steel 6.6%


Others45.2%

ExportsIn percent

Others47.5%

Imports


Footwear, gaiters and the like; parts of such articles 5.0%

Organic chemicals 5.1%


Pharmaceutical products 5.1%


Aircraft, spacecraft, and parts thereof6.1%




Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof

20.4%



Trade with EU-28 consisted largely of electrical machinery/equipment, television image and sound recorders and reproducers as well as nuclear reactors, boilers and mechanical appliances.


31

4.10. Top 5 Trade Commodities with India, 2016

Others40.4%

ExportsIn percent

Others55.8%

Imports




Animal or vegetable fats and oils and their cleavage products; prepared edible fats; animal or vegetable waxes 14.1%


Natural or cultured pearls, precious or semi-precious stones, precious metals, metals clad with precious metal, and articles thereof; imitation jewellery; coin 5.4%

Organic chemicals 6.1%



16.1%


19.4%



The region’s leading export items to India mostly consisted of mineral fuels, oils and related products and animal or vegetable fats and oils and their cleavage products. Imported goods were mainly mineral fuels, oils and related products and nuclear reactors, boilers and mechanical appliances.


32

4.11. Top 5 Trade Commodities with Japan, 2016

Others48.3%

ExportsIn percent

Others33.7%

Imports


Wood and articles of wood; wood charcoal 5.2%




Iron and 7.7%





21.3%



22.7%



Electrical machinery and equipment and parts thereof together with nuclear reactors, boilers, machinery and mechanical appliances and mineral fuels, oils and related products comprised the region’s most traded commodities with Japan.


33

4.12. Top 5 Trade Commodities with Republic of Korea, 2016

Others38.6%

ExportsIn percent

Others30.6%

Imports


Articles of apparel and clothing accessories, not knitted or crocheted 4.3%



Iron and steel 4.7%








Source of data: ASEAN Secretariat


Electrical machinery and equipment and parts thereof and mineral fuels, oils and related products accounted for nearly 50% of the region’s trade with the Republic of Korea.


34

4.13. Top 5 Trade Commodities with Russia, 2016

Others37.1%

ExportsIn percent

Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral

waxes 62.1%

Imports


Coffee, tea, maté and spices 4.6%

Animal or vegetable fats and oils and their cleavage products; prepared edible fats; animal or vegetable waxes 11.5%


Others14.7%


Aluminium and articles thereof 2.5%

Fertilisers 9.0%

Iron and steel 10.0%



29.9%



The region’s main export products to Russia were electrical machinery and equipment, and parts thereof. On the other hand, mineral fuels, oils and related products accounted for three-fourths of ASEAN’s imported goods from the Russia.


35

4.14. Top 5 Trade Commodities with USA, 2016

Others40.5%

ExportsIn percent

Others38.5%

Imports

Footwear, gaiters and the like; parts of such articles4.6%

Articles of apparel and clothing accessories, not knitted or crocheted 5.7%

Articles of apparel and clothing accessories, knitted or crocheted 8.6%




Aircraft, spacecraft, and parts thereof 8.1%


Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound

recorders and reproducers, and parts and accessories of such articles

25.9%

Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound

recorders and reproducers, and parts and accessories of such articles

22.9%



Electrical machinery and equipment and parts together combined with nuclear reactors, boilers, machinery and mechanical appliances made up more than 40% of ASEAN’s trade with USA.

ASEAN Trade in Services5

36

5.1. Trade in Services

Total Exports327

Total Imports317

-30

-25

-20

-15

-10

-5

0

5

10

15

0

50

100

150

200

250

300

350

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Trade Balance

Total

Trad

e in S

ervic

es


Total Exports12.7

Total Exports12.8

Total Imports14.0

Total Imports12.4

5

10

15

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

In percent of GDP


Note: Based on IMF Balance of Payments Manual, 6th Edition.

ASEAN trade in services grew significantly during the period 2007-2016, with total exports and imports reaching US$327 billion and US$317 billion, respectively, both accounting for approximately 13% of the region’s GDP in 2016. ASEAN was a net exporter of services in 2016.


37

5.2. Exports of Services by Broad Headings

31.8

33.4

34.6

35.5

33.9

34.2

35.6

21.7

21.4

22.6

22.7

23.4

23.7

23.1

26.4

24.3

22.9

21.5

22.6

21.1

20.6

0 10 20 30 40 50 60 70 80 90 100

2010

2011

2012

2013

2014

2015

2016

In percent

Travel

Other business services

Transport

Financial services

Telecommunications, computer, andinformation services

Others



The combined shares of travel, transportation and other business services continued to account for around 80% of ASEAN’s total exports of services.


38

5.3. Imports of Services by Broad Headings

34.6

34.7

33.0

31.3

32.1

31.5

30.9

21.1

22.2

22.6

24.3

24.6

24.7

24.6

20.7

19.8

20.4

20.0

20.3

20.4

21.0

0 10 20 30 40 50 60 70 80 90 100

2010

2011

2012

2013

2014

2015

2016

In percent

Transport


Travel

Charges for the use of intellectual propertyn.i.e


Others



Transport, travel and other business services topped the list of ASEAN’s imports of services, with a total share of 76.5% in 2016.


39

5.4. Intra-ASEAN Exports of Services by Broad Headings

54.5

54.6

53.1

53.6

54.9

52.4

53.3

16.9

16.8

16.5

15.8

14.5

14.5

15.4

14.4

14.9

16.0

15.9

15.1

15.2

14.8

0 10 20 30 40 50 60 70 80 90 100

2010

2011

2012

2013

2014

2015

2016

In percent

Travel

Transport



Financial services

Others



In 2016, travel services along with transport and other business services accounted for more than 80% of intra-ASEAN’s exports of services.


40

5.5. Intra-ASEAN Imports of Services by Broad Headings

43.7

43.7

46.6

46.0

49.1

46.2

45.2

24.5

23.5

21.2

19.9

21.0

21.2

20.9

18.5

19.6

18.4

19.4

16.7

17.3

19.1

0 10 20 30 40 50 60 70 80 90 100

2010

2011

2012

2013

2014

2015

2016

In percent

Travel

Transport



Insurance and pension services

Others



Transport, travel and other business services comprised 85% of intra-ASEAN’s imports of services in 2016.

Investment in ASEAN6

41

6.1. Inward Flows of FDI, Extra and Intra-ASEAN

8,435

24,662

70,45273,380

78,886

98,042

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Intra-ASEAN Extra-ASEAN TotalIn million US dollar


Note: For 2012-2013, Lao PDR’s data on ‘by source country’ are not yet available; intra-/extra-ASEAN breakdowns for 2012-2013 were estimated by the ASEAN Secretariat.

FDI inward flows in ASEAN declined by 18.6% from US$121 billion in 2015 to US$98 billion in 2016. However, intra-ASEAN investment increased in 2016 accounting for 25.2% of ASEAN net FDI inward flows compared to 17.9% in 2015.


42

6.2. Inward Flows of FDI by ASEAN Member States (ASEAN-6)

-150

3,521

11,329 7,933

53,912

2,553

-10,000

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

Brunei Darussalam Indonesia Malaysia Philippines Singapore Thailand

2007 2015 2016

In miilion US dollar


Note: ASEAN-6 = Brunei Darussalam, Indonesia, Malaysia, Philippines, Singapore, Thailand

Singapore remained as the highest recipient of FDI among the ASEAN-6 countries, with inward flows amounting to almost US$54 billion in 2016.


43

6.3. Inward Flows of FDI by ASEAN Member States (CLMV)

2,280

1,076

2,989

12,600

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

Cambodia Lao PDR Myanmar Viet Nam

2007 2015 2016

In miilion US dollar


Note: CLMV = Cambodia, Lao PDR, Myanmar, Viet Nam

Viet Nam remained as the highest recipient of FDI among the CLMV countries. In 2016, FDI inward flows in Viet Nam grew by 6.8%, reaching US$13 billion.


44

6.4. Inward Flows of FDI by Source Countries

ASEAN24,662

China 9,799

EU-2832,239

Japan 11,536 USA 12,214

-5,000

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016



Note: For 2012-2013, Lao PDR’s data on ‘by source country’ are not yet available; intra-/extra-ASEAN breakdowns for 2012-2013 were estimated by the ASEAN Secretariat.

EU-28 investment became the largest source of FDI inflows at US$32 billion in 2016, followed by intra-ASEAN at US$25 billion.


45

6.5. Intra-ASEAN Inward Flows of FDI by Host Countries, 2016


Brunei Darussalam0.1%

Cambodia0.6%

Indonesia10.0%

Lao PDR0.2%

Malaysia2.1%

Myanmar1.7%

Philippines0.5%

Singapore5.9%

Thailand1.8%

Viet Nam2.3%

ASEAN25.3%

In percent


Indonesia received the largest share of intra-ASEAN investment, followed by Singapore, Viet Nam, Malaysia, and Thailand.


46

6.6. Inward Flows of FDI by Component

-20,000

0

20,000

40,000

60,000

80,000

100,000

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Equity Loans/debt instruments Reinvested Earning



Note: No data available on net inflows of FDI by component for Lao PDR (2007-2015) and Myanmar (2010-2016).

In 2016, equity capital remained the main source of funding for FDI in ASEAN. In contrast, debt instruments declined from US$1 billion in 2015 to -US$6 billion in 2016.


47

6.7. Inward Flows of FDI by Activity, 2016

Financial and Insurance activities34.3%

Wholesale and retail trade; repair of motor vehicles and

motor cycles19.2%

Real estate activities8.8%

Manufacturing8.1%

Transportation and storage4.7%

Mining and quarrying4.3%

Others20.6%

In percent


Investment in financial and insurance activities comprised 34.3% of the region’s total FDI inflows, followed by wholesale and retail trade (19.2%) and real estate (8.8%). Services sector account for 78.8% of ASEAN’s investment inflows.

Other Developments in the ASEAN Economic Community7

48

7.1. Internet Subscribers/Users and Cellular Phone Density, per 100 persons

68.8

19.0

22.0

18.2

71.1

21.8

40.7

82.1

39.3

52.7

0 20 40 60 80 100

Brunei Darussalam

Cambodia

Indonesia

Lao PDR

Malaysia

Myanmar

Philippines

Singapore

Thailand

Viet Nam

Internet subscribers/users per 100 persons

2016

2015

2007

108.1

133.0

132.3

53.1

143.9

76.7

118.1

146.1

125.8

130.6

0 50 100 150 200

BruneiDarussalam

Cambodia

Indonesia

Lao PDR

Malaysia

Myanmar

Philippines

Singapore

Thailand

Viet Nam

Cellular phones per 100 persons

2016

2015

2007


In 2016, the number of internet subscribers/users continued to increase in all ASEAN Member States. During the same period, the number of cellular phone users increased considerably in Myanmar, Philippines and Indonesia. There were more than 100 cellular phones per 100 persons in all ASEAN countries except for Lao PDR and Myanmar, indicating that 1 person owns more than 1 unit of cellular phone in these countries.


49

7.2. Ratio of Paved Road to Total Road Length

Brunei Darussalam

Cambodia

Indonesia

Lao PDR

Malaysia

Myanmar

Philippines

Singapore

Thailand

Viet Nam

0

10

20

30

40

50

60

70

80

90

100

2010 2011 2012 2013 2014 2015 2016

In percent


There is a marked improvement in Myanmar’s road condition as shown by the increase in the ratio of paved road to total road length from 23.7% in 2013 to 43.3% in 2015. However, the ratio dropped to 35.3% in 2016.


50

7.3. Visitor Arrivals

219 5,00012,024

4,239

26,757

2,902 5,967

16,404

29,531

10,013

113,055

0

20,000

40,000

60,000

80,000

100,000

120,000

BruneiDarussalam

Cambodia Indonesia Lao PDR Malaysia Myanmar Philippines Singapore Thailand Viet Nam ASEAN

2007 2015 2016

In thousand persons


Note: Data for 2016 are preliminary. Except 2013 and 2014, Brunei Darussalam data covered only visitor arrivals by air transport. Thailand data for 2016 only covers January-November 2016.

Tourist arrivals in ASEAN reached nearly 113 million in 2016 with Thailand remaining as the favourite tourist destination in the region followed by Malaysia and Singapore.

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