7 things you might not know about ASEAN

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

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

Numerous other indicators show that the ASEAN region is playing an extremely important role on the international stage. With a total regional income of US$2.5 trillion, the region is considered a thriving economy and has the potential to become the world's fourth-largest economy by 2050.

2. ASEAN is the world's fourth largest export region, 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 by 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 in China and nine times higher than in India.

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

ASEAN has experienced spectacular growth in per capita income, outperforming other regions since the late 1970s. Within ASEAN countries, there are now approximately 67 million households classified as "consumer class," with incomes exceeding the threshold that allows them to shop more comfortably. This number is projected to double to 125 million households 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 companies on the Forbes Global 2000 list were headquartered in ASEAN. By 2013, this number had increased to 74. ASEAN now has 227 large international companies with over $1 billion in profits. Singapore is exceptionally strong, ranking 5th globally in the density of corporate headquarters and 1st in the density of foreign company branches. ASEAN countries are poised to soon become the world's largest manufacturing hub.

5. ASEAN is an extremely culturally diverse market.

Indonesia has the world's largest Muslim population, with nearly 90% being Muslim. The Philippines has over 80% Roman Catholics, and Thailand has over 95% Buddhists. ASEAN is unique in that it has united this diversity into a single economic and political regional unit.

6. Diverse species of plants and animals live there.

Although the ASEAN region occupies only about 3% of the Earth's surface, it is home to 20% of the Earth's biodiversity, including species found in deep mountains, dense forests, rivers, lakes, and oceans..This region also has 7 out of 25 biodiversity hotspots that are in a state of alert. These are areas where many species reside but are at the greatest threat of extinction.

7. ASEAN countries supply a quarter of Vietnam's fish products.

Of the top 10 fish-producing countries in the world, four are located in the ASEAN region: Indonesia, Thailand, Vietnam, and the Philippines.

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