Asia-Europe Meeting (ASEM)

Asia-Europe Meeting
(ASEM)
International trade
co m pac t
g u i d es
Strengthened trade balance across ASEM
In 2014, all the major regions participating in the Asia-Europe Meeting
(ASEM) recorded a trade surplus. In absolute terms, the trade surplus was
highest for the European Union (EU-28), reaching 308 billion EUR. Since the
foundation of ASEM in 1996, the trade balance has improved considerably
for all groups of ASEM partners. For ASEM as a whole, the trade surplus
rose from 80 billion in 1996 to 519 billion EUR in 2014. A part of this rise has
been caused by further partners joining into the ASEM process since its
inception. However, the largest part of the increase reflects the improved
trade balance and indeed increased trade of all ASEM regions.
Behind these improved trade balances lies an increase in exports relative to
imports over this period. Whereas the exports of the ASEM partners were
2% higher than their imports in 1996, this difference had reached 9% in
2014. Most notable is the increase for the ASEAN countries, where exports
were 8% lower than imports in 1996, but 6% higher in 2014.
ASEM partners have an important contribution
to worldwide exports
Over the period 1996 - 2014, the share of the ASEM partners in the total
exports of the world rose from 59% in 1996 to 71% in 2014. This increase
was significant between 2012 and 2014. Within ASEM, the EU-28 partners
accounted for around half of the ASEM exports in 2014, followed by the
‘NESA countries’ (including amongst others China, India and Australia)
which accounted for one third. Amongst the individual ASEM partners,
China led with 21% of the ASEM exports in 2014, followed by Germany
with 13% and Japan with 6%.
Regarding the different products exported from the European ASEM
partners to the Asian ASEM partners, machinery and vehicles is by far the
dominating product group. In 2014, these products made up 46% of the
exports from the European to the Asian ASEM partners. In comparison, the
second most important product group was chemicals, which accounted
for 15% of the total.
China and Germany the largest importers
within ASEM
The ASEM partners are also some of the largest importers in the world. In
2014, the ASEM partners accounted for 67% of all imports in the world.
As for exports, the EU accounted for over half of the ASEM imports and
the NESA countries for one third. China was the largest importer amongst
the ASEM partners, with 18% of the total imports to ASEM, followed by
Germany (11%), Japan (8%), the United Kingdom and France (both 6%).
With 34% of the total, machinery and vehicles was the largest product
group imported by the European ASEM partners from the Asian ASEM
partners in 2014. Also energy products (petroleum products) (21%) and
miscellaneous manufactured products (20%) were important for this trade
within the ASEM partnership.
Positive current account balance for all main
groups of ASEM partners
In addition to the trade balance on goods and services, the current account
also includes income from investments abroad minus payments to foreign
investors and net cash transfers. In 2014, the current account balance
was positive for ASEM as a whole and for all of the main groups of ASEM
partners. For ASEM as a whole, the current accounts balance corresponded
to 1.8% of its GDP. The highest share of the current account balance in the
GDP was noted for Norway and Switzerland (8.2%). The current account
balance as share of GDP was also noticeable for ASEAN (3.1%). However,
whereas the current account balance fell over the last two years for Norway
and Switzerland, it picked up again from 2013 to 2014 for ASEAN.
Trade openness is increasing
Compared to the founding year of ASEM, 1996, the importance of trade
had increased substantially by 2014 for most groups of ASEM partners. The
trade openness, in terms of total trade (exports plus imports) relative to
GDP, reached 50% in 2014. This was up 15 percentage points from the 35%
recorded in 1996. Although ASEAN was the only group of ASEM partners
where this ratio fell over the period, from 96% in 1996 to 86% in 2014,
it was still the ASEM region with the highest ratio. Singapore stood out
amongst the individual ASEM partners, with total trade corresponding to
252% of GDP in 2014.
Shares of the Top 5 countries in total ASEM imports of
goods, 2014 (1)
China
18%
Germany
11%
Other ASEM
partners
51%
Japan
8%
United
Kingdom
6%
France
6%
(1) Bangladesh, Cambodia, Lao PDR, Myanmar, Korea and Russia not available
Source: World Bank
Imports of goods to European ASEM partners from Asian
ASEM partners, by SITC section, 2014 (billion EUR)
20
Food and live animals
2
Beverages and tobacco
14
Crude materials, except fuels
169
Energy products
6
Oils, fats and waxes
49
Chemicals
87
Manuf'd goods classified by material
274
Machinery and vehicles
161
Miscellaneous manuf'd articles
28
Products not clasified elsewhere
0
50
100
150
200
(1) Bangladesh, Cambodia, Lao PDR, Myanmar, Korea and Russia not available
Source: World Bank
250
300
Total trade in goods relative to GDP (trade openness) by ASEM
regions, 1996 and 2014 (% of GDP)
50
65
2014 (1)
68
86
33
35
40
1996 (2)
96
22
0
10
20
30
40
50
60
70
ASEM
EU-28
Norway and Switzerland (3)
ASEAN
(1) Bangladesh, Cambodia, Lao PDR, Myanmar, Korea and Russia not available;
2
( ) Belgium, Luxembourg; Brunei Darussalam and Vietnam not available;
(3) Norway and Switzerland are ASEM partners since 2012
Source: World Bank
80
90
100
NESA
Total trade in goods relative to GDP (trade openness),
Top 10 countries, 2014 (1) (% of GDP)
Singapore
252
Belgium
174
Slovakia
163
Vietnam
160
Czech Republic
159
Hungary
156
Estonia
142
Lithuania
140
Malaysia
131
Netherlands
123
0
50
100
150
200
250
300
(1) Korea, Lao PDR, Bangladesh, Russia, Cambodia and Myanmar not available Source: World Bank
Source: World Bank
Foreign direct investment in ASEM: net inflows, by main
country groups, 2010-2014 (current EUR per capita)
2010
2011
2012
2013
2014
208
194
150
ASEM
188
240
EU-28
850
1,232
960
850
464
-
-
3,197
-1,244
1,875
136
119
147
162
154
91
104
93
106
95
Norway and Switzerland (1)
ASEAN
NESA
( ) Norway and Switzerland are ASEM partners since 2012
1
Source: World Bank World Development indicators
Balance of payments in ASEM: current account balance, by
main country groups, 2014 (¹) (% of GDP)
ASEM
1.8
EU-28
1.8
Norway and
Switzerland (2)
8.2
ASEAN
3.1
1.2
NESA
0
1
2
3
4
5
6
7
8
( ) Ireland, Croatia, Malta, Poland, Finland, Norway, Cambodia, Lao PDR, Malaysia, Myanmar,
Vietnam, China and Mongolia: 2013 data; Brunei Darussalam not available
Source: World Bank World Development indicators
1
9
Balance of payments in ASEM: current account balance, by
main country groups, 2010–2014 (1) (% of GDP)
12
10
8
6
4
2
0
2010
ASEM
2011
EU-28
2012
Norway and Switzerland (2)
2013
2014
ASEAN
NESA
(1) Missing data: 2010 and 2011: Brunei Darussalam and Myanmar. 2013: Brunei Darussalam. 2014:
Ireland, Croatia, Malta, Poland, Finland, Norway, Brunei Darussalam, Cambodia, Lao PDR,
Malaysia, Myanmar, Vietnam, China and Mongolia;
(2) Norway and Switzerland are ASEM partners since 2012
Source: World Bank World Development indicators
Asia-Europe Meeting partners:
European Union Member States: Belgium, Bulgaria, Czech
Republic, Denmark, Germany, Estonia, Ireland, Greece, Spain,
France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg,
Hungary, Malta, Netherlands, Austria, Poland, Portugal, Romania,
Slovenia, Slovakia, Finland, Sweden and United Kingdom
Other European partners: Norway and Switzerland
ASEAN member states: Brunei Darussalam, Cambodia,
Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore,
Thailand and Viet Nam
Northeast and South Asia (NESA) partners: Australia,
Bangladesh, China, India, Japan, Kazakhstan, Republic of Korea,
Mongolia, New Zealand, Pakistan and Russian Federation
International institutions: European Union and ASEAN
Secretariat
International trade balance in goods of the ASEM regions,
1996 and 2014 (billion EUR)
519
308
2014 (1)
92
67
50
80
90
1996 (2)
13
-23
-100
0
ASEM
100
EU-28
200
300
400
Norway and Switzerland (3)
500
ASEAN
600
NESA
(1) Bangladesh, Cambodia, Lao PDR, Myanmar, Korea and Russia not available;
(2) Belgium, Luxembourg, Brunei Darussalam and Vietnam not available;
(3) Norway and Switzerland are ASEM partners since 2012
Source: World Bank
Ratio of exports of goods relative to imports of goods of the
ASEM regions, 1996 and 2014 (%)
109
102
125
2014 (1)
106
104
102
105
1996 (2)
92
108
0
20
ASEM
40
EU-28
60
80
Norway and Switzerland (3)
100
ASEAN
(1) Bangladesh, Cambodia, Lao PDR, Myanmar, Korea and Russia not available;
(2) Belgium, Luxembourg; Brunei Darussalam and Vietnam not available;
(3) Norway and Switzerland are ASEM partners since 2012
Source: World Bank
120
NESA
140
Shares of the ASEM regions in total world exports of goods,
by enlargement round (1) (%)
80%
70%
60%
50%
40%
30%
20%
10%
0%
1996
2004
EU-28
2008
2010
Norway and Switzerland (2)
2012
ASEAN
2014
NESA
(1) 1996: Belgium, Luxembourg, Brunei Darussalam and Vietnam not available; 2004: Lao PDR
and Myanmar not available; 2008: Brunei Darussalam, Lao PDR, Mongolia and Myanmar
not available; 2010: Brunei Darussalam, Lao PDR and Mongolia not available; 2012: Lao PDR,
Mongolia, Myanmar and Bangladesh not available; 2014: Bangladesh, Cambodia, Lao PDR,
Myanmar, Korea and Russia not available;
2
( ) Norway and Switzerland are ASEM partners since 2012.
Source: World Bank
Share of each ASEM region in total ASEM exports of goods,
2014 (1) (%)
Norway and Switzerland
4%
ASEAN
10%
NESA
33%
(¹) Bangladesh, Cambodia, Lao PDR, Myanmar, Korea and Russia not available
Source: World Bank
EU-28
53%
Shares of the Top 5 countries in total ASEM exports of goods,
2014 (1) (%)
China
21%
Other ASEM
partners
50%
Germany
13%
Japan
6%
France
5%
Netherlands
5%
(1) Bangladesh, Cambodia, Lao PDR, Myanmar, Korea and Russia not available
Source: World Bank
Exports of goods from European ASEM partners to Asian ASEM
partners, by SITC section, 2014 (billion EUR)
25
Food and live animals
8
Beverages and tobacco
17
Crude materials, except fuels
11
Energy products (1)
Oils, fats and waxes
1
91
Chemicals
60
Manuf'd goods classified by material
269
Machinery and vehicles
Miscellaneous manuf'd articles
64
Products not clasified elsewhere
43
0
50
100
(1) Energy data for Lao PDR not available
Source: Eurostat (online data codes: DS-018995 and DS-043227)
150
200
250
300
Shares of the ASEM regions in total world imports of goods,
by enlargement rounds (1) (%)
80%
70%
60%
50%
40%
30%
20%
10%
0%
1996
2004
EU-28
2008
2010
Norway and Switzerland (2)
2012
ASEAN
2014
NESA
(1) 1996: Belgium, Luxembourg, Brunei Darussalam and Vietnam not available; 2004: Lao PDR
and Myanmar not available; 2008: Brunei Darussalam, Lao PDR, Mongolia and Myanmar
not available; 2010: Brunei Darussalam, Lao PDR and Mongolia not available; 2012: Lao PDR,
Mongolia, Myanmar and Bangladesh not available; 2014: Bangladesh, Cambodia, Lao PDR,
Myanmar, Korea and Russia not available;
2
( ) Norway and Switzerland are ASEM partners since 2012.
Source: World Bank
Share of each ASEM region in total ASEM imports of goods,
2014 (1)
Norway and Switzerland
3%
ASEAN
10%
NESA
33%
(1) Bangladesh, Cambodia, Lao PDR, Myanmar, Korea and Russia not available
Source: World Bank
EU-28
54%
For information on the Asia-Europe Meeting:
ASEM Infoboard: http://www.aseminfoboard.org
The future of
the Asia-Europe Meeting
(ASEM)
Looking ahead into ASEM’s third decade
The future of the Asia-Europe Meeting (ASEM):
Looking ahead into ASEM’s third decade
KS-01-16-542-EN-N
Asia-Europe Meeting (ASEM)
This project is funded by the European Union
ASEM At 20
the challenge of connectivity
ASEM at 20: The challenge of connectivity
Autumn 2015
Media partner
With the support of
Eurostat cooperation resources
For information on Eurostat’s statistical cooperation activities: http://ec.europa.
eu/eurostat/web/international-statistical-cooperation/overview
E-mail: [email protected]
Asia-Europe meeting
(ASEM)
A stAtisticAl portrAit
2016 edition
Asia-Europe Meeting
A statistical portrait
2016 edition
s tat i s t i c a l
books
Guide to statistics in European Commission
development cooperation
2013 edition
ISSN 2315-0815
Essential SNA: Building the basics
Essential SNA:
Building the basics
2014 edition
2014 edition
Compact guides
Snapshot
A user-friendly tool to assess the
strengths and weaknesses of
National Statistical Systems
Snapshot
A user-friendly tool to assess National Statistical Systems
See ‘Statistics explained’ for further insight into Eurostat’s international
cooperation activities:
http://ec.europa.eu/eurostat/statistics-explained/index.php/NonEU_countries
See in particular the article ‘Asia-Europe Meeting (ASEM) - a statistical
portrait - key facts’
http://ec.europa.eu/eurostat/statistics-explained/index.php/AsiaEurope_Meeting_%28ASEM%29_-_a_statistical_portrait_-_key_facts
See also
European External Action Service (EEAS): http://eeas.europa.eu
ISBN 978-92-79-58768-9 doi:10.2785/654937
© European Union, 2016
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