7 things you may not know about ASEAN

(Baonghean.vn) - Whether or not ASEAN is strong enough to replace Europe, many people agree that this region will grow rapidly, not only economically but also in terms of influence on world trade in general.

1. If ASEAN were just one country, it would have the 7th largest economy in the world.

With many other indicators showing that the ASEAN region is playing a very important role in the international arena. With a total income in the region of 2.5 trillion USD, this region has been considered a prosperous economic region and has the future to become the fourth largest economy in the world by 2050.

2. ASEAN is the 4th largest exporting region in the world, behind the European Union, North America and China/Hong Kong.

ASEAN countries account for 7% of global exports, with exports to the United States increasing 62% since 2002. The region is also a major consumer of American goods. Average consumption of American goods in the region is 1.75 times higher than the average in China, and 9 times higher than the average in India.

3. The number of consumer households is expected to double by 2025

ASEAN has seen spectacular growth in per capita income since the late 1970s. There are now some 67 million households in ASEAN that are classified as “consuming class” with incomes above the level where they can afford to buy more. This number is likely to double to 125 million by 2025, creating a core consumer market for the future.

4. ASEAN is also home to 227 of the world's largest companies.

In 2006, 49 of the Forbes Global 2000 companies were headquartered in ASEAN. By 2013, that number had increased to 74. ASEAN now has 227 large, world-class companies and over $1 trillion in profits. Singapore is an exceptional performer, ranking fifth in the world for corporate headquarters density and first for foreign branch density. ASEAN countries will soon become the world's largest factory.

5. ASEAN is an extremely culturally diverse market.

Indonesia is the world’s largest Muslim-majority country, with nearly 90% of its population practicing Islam. The Philippines is more than 80% Roman Catholic, and Thailand is more than 95% Buddhist. ASEAN is unique in that it has brought this diversity together into a single economic and political regional unit.

6. Diversity of flora and fauna

Although the ASEAN region only accounts for about 3% of the earth's surface area, up to 20% of species live in deep mountains, dense forests, rivers, lakes or under the ocean..The region is also home to seven of the world’s 25 endangered biodiversity hotspots, places where many species are at greatest risk of extinction.

7. ASEAN countries supply a quarter of fish products.

Among the 10 largest fish supplying countries in the world, 4 are in the ASEAN region: Indonesia, Thailand, Vietnam and the Philippines.

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