Intra-ASEAN trade exceeds external trade
Trade within ASEAN increased faster than trade between ASEAN and non-member states during the 1993-2013 period.
Trade within ASEAN increased faster than trade between ASEAN and non-member states during the 1993-2013 period.
An annual growth rate of 10.5 percent was recorded for trade within ASEAN during the 1993-2013 period, compared to 8.9 percent for trade between ASEAN and non-member states, according to Malaysia’s Bernama News Agency.
Bernama quoted the ASEAN Secretariat’s statistics released in October 2014 as saying that the proportion of intra-ASEAN trade increased from 19.2 percent in 1993 to 22 percent in 2000 and 24.2 percent in 2013, accounting for 25 percent of the region's total GDP in 2013.
Data on foreign direct investment (FDI) inflows in ASEAN showed that between 2000 and 2013, FDI within the bloc grew at an average annual rate of 25 percent, with FDI from non-ASEAN states posting an average annual growth of 13 percent.
Total FDI in ASEAN reached 122 billion USD in 2013, with non-ASEAN states providing 101 billion USD.
In 2013, the majority of FDI comprised 22 percent provided by the EU, 18.7 percent by Japan, 17.4 percent by ASEAN member states, 7.1 percent by China and 3.7 percent by Hong Kong (China).
The services sector benefitted from FDI the most at almost 70 percent, closely followed by manufacturing.-VNA
An annual growth rate of 10.5 percent was recorded for trade within ASEAN during the 1993-2013 period, compared to 8.9 percent for trade between ASEAN and non-member states, according to Malaysia’s Bernama News Agency.
Bernama quoted the ASEAN Secretariat’s statistics released in October 2014 as saying that the proportion of intra-ASEAN trade increased from 19.2 percent in 1993 to 22 percent in 2000 and 24.2 percent in 2013, accounting for 25 percent of the region's total GDP in 2013.
Data on foreign direct investment (FDI) inflows in ASEAN showed that between 2000 and 2013, FDI within the bloc grew at an average annual rate of 25 percent, with FDI from non-ASEAN states posting an average annual growth of 13 percent.
Total FDI in ASEAN reached 122 billion USD in 2013, with non-ASEAN states providing 101 billion USD.
In 2013, the majority of FDI comprised 22 percent provided by the EU, 18.7 percent by Japan, 17.4 percent by ASEAN member states, 7.1 percent by China and 3.7 percent by Hong Kong (China).
The services sector benefitted from FDI the most at almost 70 percent, closely followed by manufacturing.-VNA
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