Latest statistics reveal that ASEAN economies remained buoyant asnominal Gross Domestic Product (GDP) grew by 5.7 percent at 2.31trillion USD in 2012, according to the ASEAN Secretatiat.
The continued growth of the region is reflected in the improved percapita GDP at 3,751 USD from 3,591 USD in 2011. Most recent figuresshowed that averaged income of ASEAN5 (Indonesia, Malaysia, Philippines,Singapore and Thailand) has increased by 5.1 percent during the firstsemester of this year, driven by favourable economic developments in thePhilippines and Thailand.
On the other hand,ASEAN’s real GDP in 2012 advanced by 5.7 percent, higher by 1.0percentage point than in 2011. ASEAN5 rate of growth has outpaced theCLMV (Cambodia, Laos, Myanmar and Vietnam) country group at 5.8 percentand 5.3 percent, respectively.
In terms ofcomparable international exchange rate, based on Purchasing Power Parity(PPP), ASEAN’s GDP in 2012 reached PPP 3.62 trillion USD while ASEAN’sper capita GDP amounted to PPP 5,869 USD.
Over time, the region’s service sector has become a catalyst foreconomic growth, as the agriculture sector has decreased over the lastseven years. In 2012, services sector contributed the highest share toGDP in all the 10 member states, ranging from 35 percent to more than 60percent of GDP. After ASEAN5’s economy has gradually shifted to thetertiary sector, the CLMV country group is currently developing theirsecondary and tertiary sector.-VNA
The continued growth of the region is reflected in the improved percapita GDP at 3,751 USD from 3,591 USD in 2011. Most recent figuresshowed that averaged income of ASEAN5 (Indonesia, Malaysia, Philippines,Singapore and Thailand) has increased by 5.1 percent during the firstsemester of this year, driven by favourable economic developments in thePhilippines and Thailand.
On the other hand,ASEAN’s real GDP in 2012 advanced by 5.7 percent, higher by 1.0percentage point than in 2011. ASEAN5 rate of growth has outpaced theCLMV (Cambodia, Laos, Myanmar and Vietnam) country group at 5.8 percentand 5.3 percent, respectively.
In terms ofcomparable international exchange rate, based on Purchasing Power Parity(PPP), ASEAN’s GDP in 2012 reached PPP 3.62 trillion USD while ASEAN’sper capita GDP amounted to PPP 5,869 USD.
Over time, the region’s service sector has become a catalyst foreconomic growth, as the agriculture sector has decreased over the lastseven years. In 2012, services sector contributed the highest share toGDP in all the 10 member states, ranging from 35 percent to more than 60percent of GDP. After ASEAN5’s economy has gradually shifted to thetertiary sector, the CLMV country group is currently developing theirsecondary and tertiary sector.-VNA
