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Intra-Asean flows gain ground even as US, China trade blows

Asian economies have gained from the resulting trade diversions, but Asian exports, which are inputs in China, may be hit when Chinese goods become expensive in the US

Mindy Tan

Published Thu, Jun 13, 2019 · 09:50 PM

Trade

Singapore

EVEN as all eyes are trained on US-China trade tensions and the possibility of a global recession, trading within the region has been trending upwards.

Data from the Asean Secretariat shows that intra-Asean merchandise exports have consistently accounted for the largest share of merchandise value among intra-Asean and dialogue partners.

In 2000, intra-Asean merchandise made up 22.6 per cent of merchandise-export value. In 2005, it had risen to 25.3 per cent; in 2010, 25.2 per cent; and in 2017, 23.5 per cent.

In terms of imports, intra-Asean contributed 21.4 per cent in 2000, 24.5 per cent in 2005, 25.0 per cent in 2010 and 22.3 per cent in 2017.

Singapore was the largest exporter and importer within the Asean trade market, with shares of 29.0 per cent and 25.4 per cent …