East Asia, in particular ASEAN, China, Republic of Korea and Japan or ASEAN+3, has recorded remarkably high and sustained economic growth over the last three decades. The growth can be divided into phases or waves which started with Japan, followed by the “Four Tigers” i.e. Hong Kong, China; Republic of Korea, Singapore and Chinese Taipei, continued with Indonesia, Malaysia and Thailand, and more recently China and Vietnam.

Main engines of growth are high exports and investments including foreign direct investments. Common characteristics of ASEAN+3 countries that contributed to the high economic performance include:

• High exports, especially manufactured products from ASEAN+3 countries. The region is sometimes called “the world’s factory” as manufacturing is a significant economic activity. Since 1970, export growth as a whole for the region far exceeded the rest of the developing world;
• Large domestic savings and investments. The East Asia is uniquely a region with savings exceeding investment, making it a net exporter of capital;
• Availability of human capital. Governments in these countries place importance on high quality education to generate skilled and knowledgeable work-force; and
• Public policies that are favourable to agriculture. East Asian governments actively support agriculture research and extension services as well as substantial public investments in irrigation, roads, electricity, water and sanitation.

The region continues to be a vibrant and dynamic place for business. 

        Economic Data

1.       External Trade

§          Trade Volume

§          Commodities and Partners

2.       Gross Domestic Products

3.       Inflation