We often talk about the importance and opportunities in ASEAN. As the world’s third largest market in population behind China and India, its a diverse and dynamic community. So to give you a better perspective we thought we’d dive into some of the key facts and figures about ASEAN because when you look at the numbers, you start to see why we are optimistic about the countries of ASEAN’s future.
ASEAN is in a word exciting.
Let’s start with the people. Currently ASEAN has a total population of around 650 million which is expected to grow to over 700 million by 2030. Here’s how that breaks down by country.
Now we’ll take a look at how this population translates into economic output. It’s no secret larger countries tend to have larger GDPs however there is one exception in ASEAN. Tiny Singapore has an out-sized economy given its relativity small population menaing it puts out rather impressive GDP numbers.
The combined output of ASEAN’s countries make it the 5th largest economy ion the world. It even beats India in terms of GDP.