This article relies largely or entirely on a single source .(December 2022) |
These figures do not include trade intra ASEAN, services or foreign direct investment, but only trade in goods. The tenth largest ASEAN trading partners with their total trade (sum of imports and exports) in billions of US Dollars for calendar year 2021. In the table, a positive trade balance means that the ASEAN exports more than it imports from the given country.
Rank | Country/District | Exports | Imports | Total Trade | Trade Balance |
---|---|---|---|---|---|
- | World | 1,342.2 | 1,287.2 | 2,629.4 | 55.0 |
1 | China | 280.8 | 388.4 | 669.2 | −107.6 |
2 | United States | 255.2 | 109.3 | 364.5 | 145.9 |
3 | European Union | 152.3 | 116.5 | 268.8 | 35.7 |
4 | Japan | 113.9 | 126.5 | 240.4 | −12.6 |
5 | South Korea | 68.7 | 120.9 | 189.6 | −52.3 |
6 | Taiwan | 51.8 | 112.4 | 164.2 | −60.6 |
7 | Hong Kong [3] | 116.9 | 43.5 | 160.4 | 73.4 |
8 | India | 87.5 | 44 | 131.5 | 43 |
9 | Australia | 43.0 | 39.1 | 82.1 | 3.9 |
10 | United Kingdom | 18.1 | 13.5 | 31.6 | 4.6 |
The economy of Burundi is $3.436 billion by gross domestic product as of 2018, being heavily dependent on agriculture, which accounts for 32.9% of gross domestic product as of 2008. Burundi itself is a landlocked country lacking resources, and with almost nonexistent industrialization. Agriculture supports more than 70% of the labor force, the majority of whom are subsistence farmers.
International trade is the exchange of capital, goods, and services across international borders or territories because there is a need or want of goods or services.
The economy of Indonesia is a mixed economy with dirigiste characteristics, and it is one of the emerging market economies in the world and the largest in Southeast Asia. As an upper-middle income country and member of the G20, Indonesia is classified as a newly industrialized country. Indonesia nominal GDP reached 20.892 quadrillion rupiah in 2023, it is the 16th largest economy in the world by nominal GDP and the 7th largest in terms of GDP (PPP). Indonesia's internet economy reached US$77 billion in 2022, and is expected to cross the US$130 billion mark by 2025. Indonesia depends on the domestic market and government budget spending and its ownership of state-owned enterprises. The administration of prices of a range of basic goods also plays a significant role in Indonesia's market economy. However, micro, medium and small companies contribute around 61.7% of the economy and significant major private owned companies and foreign companies are also present
The economy of Malaysia is an emerging and developing, upper-middle income, highly industrialised, mixed economy. It ranks the 36th largest in the world in terms of nominal GDP, however, when measured by purchasing power parity, its GDP climbs to the 30th largest. Malaysia is forecasted to have a nominal GDP of nearly half a trillion US$ by the end of 2024. The labour productivity of Malaysian workers is the third highest in ASEAN and significantly higher than Indonesia, Vietnam, and the Philippines.
The economy of Vietnam is a developing mixed socialist-oriented market economy. It is the 33rd-largest economy in the world by nominal gross domestic product (GDP) and the 26th-largest economy in the world by purchasing power parity (PPP). It is a lower-middle income country with a low cost of living. Vietnam is a member of the Asia-Pacific Economic Cooperation, the Association of Southeast Asian Nations and the World Trade Organization.
Vietnam is a dynamic developing economy with a relatively high growth rate. The energy sector plays a key role in promoting the country's socio-economic development. Vietnam has a diverse energy fuel resource of various types such as coal, natural gas, petroleum, hydropower and renewables such as solar and wind energy. The country has recently been successful in renewable energy deployment, especially solar and wind power development. Coal has been the key power generation source since 2018. Coal accounted for about 30% of installed capacity and 47% of electricity generation in 2021 The high use of coal makes Vietnam an increasingly important emitter of carbon dioxide, contributing to climate change.
The ASEAN–European Union relations are the bilateral foreign relations between the two organisations; the European Union (EU), and the Association of Southeast Asian Nations (ASEAN). EU and ASEAN have been interacting with each other on the economic, trade, and political levels for more than four decades. The partnership between the EU and ASEAN dates back to 1972, when the EU established ties with ASEAN. The EU became an ASEAN Dialogue Partner in 1977.
The ASEAN–India Free Trade Area (AIFTA) is a free trade area among the ten member states of the Association of Southeast Asian Nations (ASEAN) and the Republic of India. The initial framework agreement was signed on 8 October 2003 in Bali, Indonesia. and the final agreement was on 13 August 2009. The free trade area came into effect on 1 January 2010. India hosted the latest ASEAN-India Commemorative Summit in New Delhi on 26 January 2018. In the financial year 2017–18, Indo-ASEAN bilateral trade grew by almost 14% to reach US$81.3 billion. India's imports from ASEAN were valued at US$47.13 billion while its exports to ASEAN stood at US$34.2 billion.
Foreign trade in India includes all imports and exports to and from India. At the level of the Central Government, trade is administered by the Ministry of Commerce and Industry. Foreign trade accounted for 48.8% of India's GDP in 2018.
Formal diplomatic relations between the Philippines and Saudi Arabia were established on October 24, 1969.
Rice production in Myanmar accounts for approximately 43% of total agricultural production in the country, making it the seventh largest producer of rice in the world. Out of 67.6 million hectares of land, 12.8 million are used for cultivation. In 2019 alone, Myanmar accounted for 13,300 million metric tons of milled rice production.