BANGKOK, Aug 19 — ASEAN's real Gross Domestic Product (GDP) grew 4.6 per cent to reach US$2.57 trillion in 2014.
The sustained growth in GDP led to an increase in the GDP per capita from US$3,908 in 2013 to US$4,130 in 2014, ASEAN Secretariat said in a statement today.
It said the services sector continued to be the biggest contributor to growth at 50.1 per cent of the region’s total GDP in 2014.
In the case of ASEAN6 (Brunei, Indonesia, Malaysia, the Philippines, Singapore, and Thailand), all countries except Malaysia experienced a slowdown in their growth, leading to a decrease in the average GDP growth from 5.1 per cent in 2013 to 4.3 per cent in 2014, it said.
In contrast, real GDP growth of CLMV countries (Cambodia, Laos, Myanmar, and Vietnam) advanced by 6.6 per cent in 2014, higher by 0.4 percentage point from the 2013 level, it said.
In terms of Purchasing Power Parity (PPP), on the one hand, ASEAN’s GDP reached PPP US$6.64 trillion in 2014, constituting 6.1 per cent of World GDP in PPP.
On the other hand, ASEAN’s GDP per capita stood at PPP US$10,677 which is equivalent to approximately two-thirds of the World GDP per capita of PPP US$15,189, it said.
As one of the fastest growing regions, the share of ASEAN GDP in the world increased from 3.18 per cent in 2013 to 3.33 per cent in 2014, it said.
The size of ASEAN GDP in 2014 stood at approximately 15 per cent of the US economy, compared from only seven per cent in 2004. — Bernama
