Association of South East Asian Nations (ASEAN): Attractive forward profile
>1
Comprising 10 countries, ASEAN should be thought of as the 3rd Pillar of Asian growth
– alongside China and India
KEY ECONOMIC INDICATORS ASEAN
Population (m)
GDP (USD b)
Real GDP growth
GDP Per Capita
2012
2013
617.2
625.1
2,312.1
2,395.3
5.8%
5.2%
3,761
Inflation
3,832
3.9%
4.2%
Exports (USD b)
1,254.6
1,271.1
Imports (USD b)
1,221.9
1,240.4
Exports (% change)
+1.0%
+1.3%
Imports (% change)
+6.6%
+1.5%
3rd biggest
country1 in
the world in
terms of
population
Average
economic
growth rate
(next 5
years) > 5%
Share of global
exports: 7%
Share of
world GDP:
4%
4th largest
exporting
region in the
world
Almost
double its
share in
2000
ASEAN
economic
growth ~2x
Australia &
New Zealand
To be the 5th
largest
economy by
2018
Intra ASEAN
trade: ~25%
of the
region’s
exports
Note 1: If considered as a nation
Note 2: 227 Companies with more than $1 billion revenue, or 3% of the world’s total. Average revenue per Company USD 4.7 billion
Source: ASEAN Secretariat, ADB, World Bank, McKinsey, WTO & ANZ Analysis
7th largest
host of the
world’s
largest
companies2
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Will ASEAN become the world’s factory?
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 Though Asia will emerge as the global economic bloc midcentury, manufacturing platforms must migrate South.
 Japan, South Korea and Taiwan not only have Asia’s oldest
workers they also have some of the oldest workers in the
world. China is not far behind.

 Asia’s youngest populations are in the ASEAN and
MEKONG. Myanmar, Laos, Cambodia and Vietnam clearly
have the demographic dividend. Indonesia’s median age is
rapidly falling given fast population growth
ASEAN WORKERS: ECONOMICALLY ACTIVE
POPULATION
0.9
0.8
0.7
0.6
Billions
The ASEAN will emerge as the new “Factory of Asia”
0.43 bn
in 2050
0.5
0.4
0.3
0.33 bn
in 2014
0.2
0.39 bn
in 2030
0.1
1980
1990
2000
2010
Economically active population
ASEAN LABOUR COST
2020
2030
2040
Total population
2050
(Monthly Salary: USD/factory worker)
Yangon (Myanmar)
Phnom Penh (Cambodia)
Ethopia (Africa)
Da Nang (Vietnam)
Vientiane (Laos)
Hanoi (Vietnam)
Ho Chi Minh City (Vietnam)
Batam Island (Indonesia)
Mumbai (India)
Cebu (Philippines)
Jakarta (Indonesia)
EM Asia average
New Delhi (India)
Manila (Philippines)
Shenyang (China)
Chennai (India)
Dalian (China)
Shenzhen (China)
Kuala Lumpur (Malaysia)
Bangkok (Thailand)
Guangzhou (China)
Bangalore (India)
Shanghai (China)
Beijing (China)
-
100
200
300
400
500
Source: JETCO, Comparison of Investment Costs, 2013, CEPII, UN & ANZ Analysis
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