In 2022, the estimated total GDP of all ASEAN states amounted to approximately 3.67 trillion U.S. dollars, a significant increase from the previous years. In fact, the GDP of the ASEAN region has been skyrocketing for a few years now, reflecting the region’s thriving economy. Power in the EastThe Association of Southeast Asian Nations (ASEAN) comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. It was established in 1967 among five of these countries (Indonesia, Malaysia, Thailand, Singapore, and the Philippines) to facilitate trade and economic growth, as well as promote cultural development and social structures in the region. To date, they have been joined by another five nations. The ASEAN marketThe founding of the ASEAN organization provides the collaborating nations with more autonomy and influence on the global economy than they would have had by themselves. Additionally, struggling participating countries, such as Laos, are given an opportunity to grow on an ASEAN single market.

In 2023, the real gross domestic product (GDP) in the Philippines grew by approximately 5.55 percent, marking the highest growth rate in Southeast Asia. In comparison, Singapore's real GDP growth rate dropped to less than 1.1 percent. Most Southeast Asian economies are projected to see an increase in their real GDP growth rates in 2025 compared to 2023, except for Laos and Myanmar. Southeast Asia, a tapestry of economic and cultural complexity Historically a critical component of global trade, Southeast Asia is a diverse region with heterogeneous economies. The region comprises 11 countries in total. While Singapore is a highly developed country economy and Brunei has a relatively high GDP per capita, the rest of the Southeast Asian countries are characterized by lower GDPs per capita and have yet to overcome the middle-income trap. Malaysia is one of these countries, having reached the middle-income level for many decades but yet to grow incomes proportionally to its economic development. Nevertheless, Southeast Asia’s young population will further drive economic growth across the region’s markets. ASEAN’s economic significance Aiming to promote economic growth, social progress, cultural development, and regional stability, all Southeast Asian countries except for Timor-Leste are part of the political and economic union Association of Southeast Asian Nations (ASEAN). Even though many concerns surround the union, ASEAN has avoided trade conflicts and is one of the largest and most dynamic trade zones globally. Factors such as the growing young population, high GDP growth, a largely positive trade balance, and exemplary regional integration hold great potential for future economic development in Southeast Asia.

The statistic shows gross domestic product (GDP) per capita in the ASEAN countries from 2019 to 2022, with projections up until 2029. GDP is the total value of all goods and services produced in a country in a year. It is considered to be a very important indicator of the economic strength of a country and a positive change is an indicator of economic growth. The ASEAN (Association of Southeast Asian Nations) region in Asia comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. In 2022, GDP per capita in Brunei amounted to around 37,452.92 U.S. dollars.

This dataset provides values for GDP reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

In 2020, Brunei was the only ASEAN member state where the industry sector contributed the biggest share to the national GDP. In Singapore, the services sector contributed over 74 percent to the national GDP that year, the biggest share among ASEAN countries.

In 2020, the forecasted economic growth in Thailand amounted to minus 6.7 percent, this was then forecasted to increase over the following year. The economic growth throughout Southeast Asian countries was either forecasted to decrease or increase by less than two percent in 2020. The stunted economic growth can be attributed to the outbreak of the coronavirus, which caused the economic shutdown of many Southeast Asian markets.

This dataset provides values for GDP ANNUAL GROWTH RATE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

In 2019, all ASEAN nations had a total gross domestic product which amounted to approximately 3.17 trillion U.S. dollars. This was a significant increase from 2010, in which the gross domestic product of the ASEAN region amounted to just over 1.9 trillion U.S. dollars.

GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.

The Gross Domestic Product (GDP) in Vietnam expanded 7.55 percent in the fourth quarter of 2024 over the same quarter of the previous year. This dataset provides the latest reported value for - Vietnam GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

This dataset provides values for GROSS NATIONAL PRODUCT reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

In 2023, the travel and tourism industry contributed approximately 314 billion U.S. dollars to the GDP in Southeast Asia. Comparatively, this value was about 379.9 billion U.S. dollars in 2019. GDP contributions from this industry in Southeast Asia saw consistent increases throughout the past decade until they halved in 2020 due to the global pandemic. Tourism in Southeast Asia is recovering The number of tourists in Southeast Asia increased significantly in the last decade. While the COVID-19 pandemic affected the tourism sector heavily, the Southeast Asian region is recovering the fastest by international tourist arrivals to the Asia-Pacific region. Southeast Asia was also the Asian subregion with a high year-on-year change in the monthly number of international tourist arrivals, especially from January to March. Importance of the tourism industry in Southeast Asia As tourism in Southeast Asia contributes highly to the GDP, many countries are dependent on tourism to stimulate their newly emerging economies. In addition to the monetary value, the tourism industry contributes significantly to employment in Southeast Asian countries. Indonesia falls into the top five leading countries with the highest total contribution of travel and tourism to employment worldwide. To maintain and even encourage the growth of the tourism sector, both regarding domestic and international tourists, many Southeast Asian countries are initiating programs such as easier visa attainment and the establishment of low-cost airlines to stimulate the tourism industry.  

In 2023, South Asia recorded the highest real gross domestic product (GDP) growth rate in the Asia-Pacific region at seven percent, at least 2.7 percentage points higher than other subregions. East Asia reported a real GDP growth rate of about 4.3 percent, while Southeast Asia's real GDP growth rate was around 4.1 percent that year. In 2025, South Asia was forecasted to remain the subregion with the highest real GDP growth rate at six percent, while Southeast Asia was projected to rank second at around 4.7 percent.

This dataset provides values for GDP PER CAPITA PPP reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

This dataset provides values for HOUSEHOLDS DEBT TO GDP reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

In 2021, the tourism sector in Vietnam contributed approximately two percent to the country's GDP, indicating a sharp decrease from the previous years. The share of GDP contribution from the tourism sector had been growing annually prior to 2019. However, the tourism sector was hit hard in 2020 and 2021 due to the impact of the COVID-19 pandemic.

The growing importance of domestic tourism

As an emerging destination in Southeast Asia, Vietnam had received millions of international visitors each year before the pandemic. Meanwhile, domestic tourism had demonstrated fast growth and yearly increases in tourism receipts in recent years. Additionally, thanks to Vietnam’s expanding middle class, the share of domestic guests staying in upscale hotels while traveling had been rising steadily. A similar growth pattern could also be observed in the daily average spending of domestic tourists.

Impact of the COVID-19 pandemic on Vietnamese tourism Vietnam is not exempted from the negative influences of the COVID-19 pandemic on global tourism. The country closed its border to inbound tourists in early 2020, resulting in a significant decrease in the number of international visitors. After having managed to control the spread of the pandemic, Vietnam had been promoting domestic tourism to accelerate travel recovery. Since March 2022, the country has lifted most of its travel restrictions for international tourists, hoping to further accelerate the recovery of the tourism sector.

In 2021, Macao had the highest estimated gross domestic product (GDP) growth with 33.5 percent, followed by the Maldives with an estimated GDP growth of 31.6 percent. Many economies were forecasted to have seen a decline in GDP in 2021, possibly due to COVID-19, reaching up to 1.8 percent in Myanmar. Nevertheless, almost economies were forecasted to recover in 2022 and 2023.

The economic state in Asia

In 2020, China led the Asia Pacific region in terms of GDP with approximately 14.7 trillion U.S. dollars, followed by India, South Korea, and Australia. In comparison, the GDP value for emerging and developing Asia was at aproximately 20.8 trillion international dollars in that year. In terms of GDP per capita, Singapore ranked the highest with approximately 59.8 U.S. dollars, followed by Australia with a per capita GDP of around 51.8 U.S. dollars.

Higher GDP growth for developing Asia Pacific countries

For 2022 and 2023, it was forecasted that Macao and the Maldives would have the highest GDP growth. Overall, Afghanistan had the highest predicted rise in GDP growth from 2021 to 2023. South Asia, Southeast Asia, and Southwest Asia were forecasted to be leading the region’s economic growth with comparably higher GDP growth rates. Developed countries including Australia, New Zealand and Japan were projected to have stagnant GDP growth.

In 2019, all ASEAN nations had a total gross domestic product growth of approximately 4.6 percent. This was a decrease compared to 2010, in which the GDP of the ASEAN region grew by 7.5 percent.

In 2023, China's gross domestic product amounted to approximately 17.7 trillion U.S. dollars, which was the highest GDP across the Asia-Pacific region. Japan followed with a GDP of around 4.2 trillion dollars.  China, Asia-Pacific's titan The significance of the Asia-Pacific region to the world is multifaceted, ranging from geopolitical importance to being home to more than half of the world's population. Characterized by emerging countries and dynamic economic activities, the region plays a key role in the global economy. China, the most populous country after India, and the second largest economy on the planet, accounted for about half of the total gross domestic product (GDP) in APAC as of 2023. The GDP growth in China was characterized by high rates for decades. Following the COVID-19 pandemic, the country has struggled to catch up with the previous level of growth rates and was forecast to stay at more modest real GDP growth rates in the coming years.  A new paradigm of development in the Asia-Pacific region Even though the Asia-Pacific region has made significant economic improvements in the last decades, from a developmental perspective, tackling existing socio-economic issues will be critical for future growth. An aspect worth mentioning is the GDP per capita in the region. EU countries, for example, had about three times as much GDP per capita compared to East Asia and the Pacific region in 2022. China has been working towards changing its economic focus to high-tech and service sectors while reducing its concentration on agriculture.

The Gross Domestic Product per capita in Vietnam was last recorded at 13491.88 US dollars in 2023, when adjusted by purchasing power parity (PPP). The GDP per Capita, in Vietnam, when adjusted by Purchasing Power Parity is equivalent to 76 percent of the world's average. This dataset provides - Vietnam GDP per capita PPP - actual values, historical data, forecast, chart, statistics, economic calendar and news.