Markets

The Asean Market

The Association of Southeast Asian (ASEAN) countries are currently driving the global economy’s growth. Collectively, the ten member economies rank as the ninth largest economy in the world.

The emerging Asian economies are shifting from producing for export to producing for domestic consumption and the IMF forecast GDP growth of almost 8% in 2013.

“Developing Asia’s large and expanding service sector already contributes significantly to the region’s growth. That role will broaden further as economies that graduated from agriculture to industry evolve further into service economies”.  (ADB Outlook 2012)

GDP and Population Growth Forecasts

2012   2013 2014 2015 2016
 $2,245.9 GDP ($bn)  $2,436.7 $2,640.7  $2,865.0  $3,111.5 
  GDP Growth %  8.5%  8.4%  8.5%  8.6%
           
 613.18 Population (m)  621.88 630.72  639.70  648.82 
  Population Growth %  1.4% 1.4%  1.4%  1.4% 
           
  GDP per Capita  $3,918 $4,187  $4,479  $4,796 
           
Source: International Monetary Fund (IMF)