Quick Answer: How big is the Asean market?

ASEAN is a fast‑expanding trade bloc in Asia with a growing economic clout. With a combined population of over 655 million, ASEAN’s aggregate economic size was about US$3.2 trillion in 2019.

What is the size of ASEAN market?

Gross domestic product of the ASEAN countries from 2011 to 2021. In 2020, the estimated total GDP of all ASEAN states amounted to approximately 3.08 trillion U.S. dollars, a significant increase from the previous years.

How much is the ASEAN economy worth?

According to the latest International Monetary Fund World Economic Outlook figures, ASEAN countries’ gross domestic products combined to $2.73 trillion in 2017, putting the group ahead of the United Kingdom’s 2.63 trillion and India’s $2.61 trillion.

How big is Southeast Asia market?

Together they span about 4,46 million km² and gather more that 650 million people which make the ASEAN market very attractive.

Does ASEAN have a common market?

ASEAN officially launched its Economic Community (the AEC) in 2015, marking an important economic and political commitment to the region’s shared and connected future in a common market. … According to the ASEAN Secretariat, 99% of initiatives planned for the current phase of economic integration have been achieved.

Who is the richest country in the world?

Five countries are regarded as the wealthiest countries globally, and we will talk about each one below.

  • Luxembourg. The European country of Luxembourg has been classified and defined as the wealthiest country in the world. …
  • Norway. The GDP of Norway ranks as the second-largest in the world. …
  • Switzerland. …
  • Ireland. …
  • Iceland.
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Who is the richest country in Southeast Asia?

South East Asia (SEA)

Rank Country 2020 GDP (PPP) billions of USD
1 Indonesia $3,328
2 Thailand $1,261
3 Vietnam $1,047
4 Malaysia $988

Which country is richer Philippines or Malaysia?

Malaysia has a GDP per capita of $29,100 as of 2017, while in Philippines, the GDP per capita is $8,400 as of 2017.

What is the biggest industry in Southeast Asia?

Agricultural processing is most important in virtually all nations. The notable exception is Singapore, where the manufacture of a variety of products, headed by electrical and electronic and transport equipment, is dominant.

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