Intra-Asean trade grew faster than extra-Asean trade in 1993-2013

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BANGKOK, Oct 29 – Intra-Asean trade increased at a faster pace, with annual growth rate averaging 10.5 per cent, as compared to either overall Asean trade (by 9.2 per cent) or extra-Asean trade (by 8.9 per cent) during the period 1993-2013.

The share of intra-Asean trade in overall Asean trade has been on an increasing trend starting from 19.2 per cent in 1993 to 22 per cent in 2000 and 24.2 per cent in 2013, and accounted for 25 per cent of the region’s total GDP in 2013, according to Asean Community in Figures (ACIF) Special Edition 2014, launched this month by the Asean Secretariat.

Data on foreign direct investment (FDI) inflows in Asean showed that from 2000 to 2013, intra-Asean FDI inflows grew at an average annual rate of around 25 per cent, in tandem with extra-Asean FDI inflows, which posted an average annual growth of 13 per cent.

Asean total FDI inflows stood at US$122 billion in 2013, with extra-Asean countries providing US$101 billion.

In 2013, major sources of FDI inflows comprised EU-28 (with a 22 per cent share of total), Japan (18.7 per cent), Asean member states (17.4 per cent), China (7.1 per cent) and Hong Kong (3.7 per cent).

Economic activities under the services sector accounted for the bulk of FDI inflows to Asean, with an average share of nearly 70 per cent in the last four years, followed by FDI in manufacturing.

Source: Pattaya Mail