The Association of Southeast Asian Nations (ASEAN) is a geopolitical and economic organization consisting of ten countries in the Southeast Asian region, namely Indonesia, Malaysia, the Philippines, Thailand, Singapore, Brunei Darussalam, Cambodia, Myanmar, Laos, and Vietnam.
Founded on August 8, 1967, in Bangkok, Thailand, the ten member countries of ASEAN are a major global force. Already 56 years old, ASEAN has achieved many international achievements and economic improvements that accelerate yearly.
Here are some facts and data related to ASEAN that are interesting to know:
Third Largest Population
Consisting of 10 countries in Southeast Asia, the total population in the ASEAN region will amount to 663.9 million people (2021). It makes ASEAN the world's third largest population or 8.4% of the world's population are ASEAN citizens. Indonesia is the most populous country in Southeast Asia. Another interesting fact is that over half of the ASEAN population is under 30.
Third Largest GDP
Besides occupying the third position as the world's most populous region, ASEAN also has a combined gross domestic product (GDP) of US$3.3 trillion (2021). This makes ASEAN the third-largest economy in Asia and the fifth-largest in the world, or about 3.5% of world GDP, with ASEAN's economic growth reaching 3.4% from 2010-2021.
Area of the ASEAN Region
The ASEAN region is large, covering 4.5 million square kilometers, or about 3% of the world's total land area. It is still a land area, while the water area of the ASEAN region is three times larger than the land area. Geographically, the ASEAN region borders China and the Pacific Ocean in the north, Papua New Guinea and the Pacific Ocean in the east, Australia and the Indian Ocean in the south, and India and the Indian Ocean in the west.
Superior Financial Sector
Foreign direct investment (FDI) in the ASEAN region continues to grow. Based on 2021 data, the finance and insurance sector is the highest to receive foreign capital, namely 32.0%. The manufacturing sector follows this at 25.8%; wholesale and retail trade, motor vehicle components 13.5%, real estate at 4.6%, communication and information 4.2%, and other sectors 19.9%.
Photo: Shutterstock/Lim Yong Hian