ASEAN TRADE RELATION WITH INDIA, CHINA & US
LIST OF ASEAN MEMBER COUNTRIES The Association of Southeast Asian Nations (ASEAN) is a regional intergovernmental organization. The main aim of this association is to promote Pan-Asianism, intergovernmental cooperation and facilities in educational, military, security, political & economic sectors socio-cultural integration among its members and other Asian countries. Headquartered at Jakarta, Indonesia, ASEAN was founded on 8th August 1967 and by Thailand, Singapore, Philippines, Malaysia and Indonesia.
ASEAN TRADE BY IMPORTS & EXPORTS As per a report on ASEAN trade statistics 2016, ASEAN imports of all countries in 2016 valued at USD 1104 billion, a slight increase from the previous year and ASEAN exports valued at USD 1182 billion, which also saw an increase from the previous year HS Code
Product Description
2016 Import Value
2016 ExportValue
85 84 27 87
Electrical Machinery & Equipment Machinery Mineral Fuels Vehicles Other Than Railway or Tramway
USD 254 billion USD 145 billion USD 132 billion USD 44 billion
USD 316 billion USD 137 billion USD 109 billion USD 42 billion
39
Plastics
USD 42 billion
USD 37 billion
ASEAN TRADE BY IMPORTING COUNTRY & EXPORTING COUNTRY Singapore is the largest importer and exporter country of products among ASEAN nations. It recorded trade surplus in 2016 as its exports were higher than its imports. Vietnam and Thailand stood as the 2ndand 3rd biggest buyer and supplier country among this group. Country
2016 Import Value
2016 Export Value
Singapore Vietnam Thailand Malaysia Indonesia Philippines Myanmar Cambodia Laos Brunei
USD 283 billion USD 200 billion USD 195 billion USD 168 billion USD 135 billion USD 85 billion USD 15 billion USD 12 billion USD 4 billion USD 2 billion
USD 329 billion USD 219 billion USD 213 billion USD 189 billion USD 144 billion USD 56 billion USD 11 billion USD 10 billion USD 3 billion USD 4 billion
ASEAN TRADE WITH INDIA India-ASEAN trade & investment relations have been growing steadily with ASEAN being India’s 4th largest trading partner. India’s trade with ASEAN countries valued to USD 71 billion. India’s exports to ASEAN nations increased from 2015’s USD 25 billion to USD 31.07 billion in 2016. While, India’s imports from ASEAN nations stood at USD 40.63 billion in year 2016. Country
2016 Import Value
Country
2016 Export Value
Indonesia Malaysia Singapore Thailand Vietnam Myanmar Philippines Brunei Laos Cambodia
USD 12189 million USD 8653 million USD 6719 million USD 5316 million USD 3105 million USD 1084 million USD 475 million USD 461 million USD 172 million USD 43 million
Singapore Vietnam Malaysia Indonesia Thailand Philippines Myanmar Cambodia Brunei Laos
USD 7354 million USD 5957 million USD 4188 million USD 3131 million USD 2962 million USD 1474 million USD 1141 million USD 109 million USD 37 million USD 23 million
ASEAN TRADE WITH CHINA China’s total imports from ASEAN countries amounted to USD 196 billion and its total exports to ASEAN nations amounted to USD 256 billion in year 2016. Country
2016 Import Value
Country
2016 Export Value
Malaysia Thailand Vietnam Singapore Indonesia Philippines Myanmar Laos Cambodia Brunei
USD 49269 million USD 38532 million USD 37171 million USD 26014 million USD 21414 million USD 17395 million USD 4097 million USD 1359 million USD 830 million USD 221 million
Vietnam Singapore Malaysia Thailand Indonesia Philippines Myanmar Cambodia Laos Brunei
USD 61094 million USD 44495 million USD 37660 million USD 37182 million USD 32117 million USD 29836 million USD 8187 million USD 3928 million USD 986 million USD 510 million
• ABOUT ASEAN – INDIA FREE TRADE AREA The ASEAN-India Free Trade Area (AIFTA) is a free trade area between ten member countries of ASEAN and India. The initial agreement was signed on 8th October 2003 in Bali, Indonesia, but the final agreement was signed on 13th August 2009.
• ABOUT ASEAN – CHINA FREE TRADE AREA The ASEAN-China Free Trade Area (ACFTA) is a free trade area among the 10 member states of the Association of Southeast Asian Nations (ASEAN) and China. It is also known as China-ASEAN Free Trade Area. This framework agreement was initially signed on 4th November 2002 in Phnom Penh, Cambodia. It came into force on 1st January 2010.
ASEAN TRADE WITH US US ASEAN trade statistics shows that two-way merchandise trade between the United States of America and ASEAN countries continues to grow as trade between them reached to USD 211.8 billion in 2016, which accounted for 9.5% of ASEAN’s total trade. Country
2016 Import Value
Country
2016 Export Value
Vietnam Malaysia Thailand Indonesia Singapore Philippines Cambodia Myanmar Laos Brunei
USD 43760 million USD 37332 million USD 30456 million USD 20137 million USD 18062 million USD 10375 million USD 2916 million USD 253 million USD 57 million USD 13 million
Singapore Malaysia Thailand Vietnam Philippines Indonesia Brunei Cambodia Myanmar Laos
USD 26691 million USD 11831 million USD 10444 million USD 10100 million USD 8199 million USD 6023 million USD 614 million USD 360 million USD 192 million USD 30 million
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