Wolfgang LEHMACHER

1
Wolfgang LEHMACHER

• World Economic Forum
• Discussion Points for SE Asia session

28 September 2008
2
The 28 September Session

• It is a facilitated group discussion lasting one
  hour with the focus on
• Structured interventions from discussion leaders
  (you)
• Capturing direct feedback from participants (a
  number of CEO, Chairmen, etc from around the
  world)
• Building consensus on priorities and solutions
• It is primarily a session on South East Asia
  what is happening, what are its prospects etc.
  There are separate sessions on India and China
• The topic is What will be the response to rising
  consumer and producer prices for energy and
  food and how will it impact the regions South
  East Asia trade flows and major currencies?
• There is a separate session on food security on
  27 September which may be worth attending as
  background
• The other discussion leaders are largely from a
  financial services background and we suggest you
  focus on trade flows and leave them to comment on
  currencies

3
Agenda
Overview of Main Discussion Point
South East Asia
Potential Scenarios
Appendix
4
Overview 1/2
In recent years trade has moved from being highly
US and EU centric, to more balanced with the
including of developing regions such as South
East Asia
GDP Growth ()
While the GDP of North America and the EU is
comparatively large, there is significant growth
expected in developing regions such as China,
India, Mercosur and ASEAN
China
India
ASEAN
Mercosur
Size of the bubbles
2007 GDP
EU
Estimated 2027 GDP
North America
Population (Million)
Notes Mercosur countries include Argentina,
Brazil, Paraguay and Uruguay Source CIA
Factbook, ASEAN statistics
5
Overview 2/2
Rises in energy prices is driving the importance
of the logistics component of the value chain,
with a shift in preferred modes of transport
towards rail and sea

• It is estimated that for the end to end freight
  of commercial goods
• Sea is the slowest form of transport 8.5 km per
  hour
• Road averages 12 km per hour
• Rail is the fastest at 14.5 km per hour

Source Queensland University of Technology, CVA
analysis
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Agenda
Overview of Main Discussion Point
South East Asia
Potential Scenarios
Appendix
7
South East Asia and ASEAN
Of the 11 South East Asian nations, 10 are
members of ASEAN and only East Timor is not a
member

• Countries in the region
• Brunei
• Cambodia
• Indonesia
• Laos
• Malaysia
• Myanmar
• Philippines
• Singapore
• Thailand
• Vietnam

Notes For the purposes of this presentation the
ASEAN region is focused on Source DFAT, web
resources
8
Overview of ASEAN

• If ASEAN were a single market today, it would be
  a market of 550 million people, third in the
  world after China and India
• Within the group of countries, there is a
  significant variance across all key economic
  indicators
• For example, Singapore is an advanced economy
  which has virtually eliminated poverty, while
  Laos, Myanmar and Cambodia are among the United
  Nations least developed countries
• In addition, the political structure and
  stability varies significantly
• ASEAN is in the process of implementing an ASEAN
  Community
• including an ASEAN Economic Community, to be a
  single market and production base with free flow
  of goods, services and skilled labour and freer
  flow of capital by 2020 with full integration in
  eleven key sectors by 2010
• Agro-based products, fisheries, wood-based
  products, rubber-based products, textiles and
  apparel, automotives, electronics, e-ASEAN,
  healthcare, tourism and air travel
• This will create a seamless production base and
  an integrated market of over half a billion
  consumers with a GDP of moire than US800 billion
• Non-ASEAN partners accounted for almost 80 per
  cent of ASEANs trade in 2004
• ASEAN is also highly dependent on non-ASEAN
  investors, which provided almost 90 per cent of
  FDI inflows in 2004

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ASEAN Region 1/2
The ASEAN region is extremely diverse, with
countries varying vastly in the size of their
economies and the wealth of their populations
GDP / Capita (USD)
35,000
Singapore
Brunei
30,000
Malaysia
Laos
Thailand
Indonesia
Cambodia
Myanmar
Vietnam
Philippines
GDP (USD Millions)
Source ASEAN statistics
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ASEAN Region 2/2
together with a range of political structures,
with no true democracies and frequent crises
making the political situation in the region
relatively unstable and volatile
Cambodia Elected government headed by former Khmer Rouge member with liberal policies
Indonesia Considered the most liberal democracy in SE Asia, after long authoritarian period
Malaysia Authoritarian democracy but moving to multi-party system
Myanmar Military junta
Philippines Personality-based democracy, rather ineffective governments
Singapore Effectively single-party state with highly market-oriented policies
Thailand Corruption and regular military coups characterise Thai democracy
Vietnam Market-leaning communist state
Laos Market-leaning communist state
Brunei Absolute monarchy
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Performance
While the ASEAN region has strong trade flows, it
has been overtaken by China in recent years
across a range of major commodities
Source World Trade Atlas online database
12
Trade flows between ASEAN, China and the Rest of
the World
ASEAN trade is largely outside the region, with
intra-ASEAN trade 25 of the total

• ASEANs top 4 external trade partner
  countries/regions (2006)
• Japan 11.5 of total trade
• USA 11.5 of total trade
• European Union-25 11.4 of total trade
• China 10 of total trade

Import and Export flows between ASEAN and other
regions 2006
China
Rest of the World
US497 billion
US75b
US65b
ASEAN
US716 billion
Total trade 352 billion
Intra-ASEAN trade flows
Exports
Intra-ASEAN trade 25 of total trade (2006)
Imports
Source ASEAN statistics
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Importance of Trade
The development of required infrastructure is
crucial to growth in the region, however the
ASEAN region currently conducts a vast proportion
of its trade with external partners
Intra / Extra trade flows ASEAN and EU region
comparison (2007)
25
66
75
34
Source WTO and ASEAN stats
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ASEAN Economic Integration
ASEAN hopes to have free trade in goods and
services as well as free movement of skilled
labour and investment by 2020
2005
2010
2015
2020
Goods
Average tariffs 2
No tariffs on included goods and uniform customs
processes
ASEAN-6
Goods currently excluded from the liberalisation
program include poultry, pork, rice, tropical
fruit and sugar
No tariffs on included goods and uniform customs
processes
Average tariffs 6
LCMV
Deadline for full liberalisation
Services
TRIPS is the IP part of the WTO
Deadline for Myanmar and Laos to comply with TRIPS
IP
Free FDI for ASEAN investors
Free FDI for foreign investors
Capital
There is no suggestion that there will be free
flow of unskilled labour
Free flow of skilled labour
Labour
Note ASEAN-6 is the original six, wealthier
members Brunei, Indonesia, Malaysia,
Philippines, Singapore and Thailand while LCMV is
the poorer, newer members, Laos, Cambodia,
Myanmar and Vietnam
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Growth Potential
The ASEAN region has the potential to reach
growth levels similar to that of China, but must
first overcome a number of key hurdles
GDP Growth 2006-2007 change ()
Growth across the region varies greatly, and a
number of countries have extremely low GDP per
capita
Cambodia
Singapore
Vietnam
Philippines
Malaysia
Indonesia
Myanmar
Lao
Thailand
Brunei
GDP per Capital 2007 (US)
The region must integrate, build its core
infrastructure and work on developing strong
regulatory frameworks that will assist the
integration process
Source ASEAN statistics
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ASEAN Logistics Infrastructure
Given that transport and logistics development is
often an indicator of future economic growth, it
is important that projects currently underway are
continued as a high priority to assist trade
integration
Current Projects
Trade Implications

• The Trans-Asian Railway (TAR) is a proposed
  network of 81,000km of line serving 28 UNESCAP
  countries starting on the Pacific seaboard of
  Asia and ending on the doorstep of Europe
• A major missing link in the (TAR) project is a
  railway line through Lao
• The UN ESCAP report on the TAR estimated the
  capital costs of building the missing links
  through Lao at US855 million
• Consisting of 30km for the Vientiane-Nong Kai
  (Thailand) section crossing the Mekong River by
  an existing road bridge, 510km for the
  Vientiane-Boten (China) section and 30km for the
  Pakse-Chong Mek (Thailand) section
• The Asian Highway Network project encompasses
  141,000km and 32 countries
• A key component of the development of this
  network is the construction of a number of
  critical bridges, including 3 in Lao
• The project has estimated the investment required
  in Lao at US345 million

• Currently international trade is very expensive
  along the eastern side of the region, as
  Vietnams largely domestic sea ports are
  ill-equipped for large container ships completing
  international voyages
• Trade between ASEAN and the Guangdong province in
  China could be road/ rail instead of by sea from
  Bangkok were the road and rail links across
  Cambodia, Laos and Vietnam completed
• China may be prepared to assist the development
  of these links as it would allow them to open up
  the provinces of Yunan and Guangxi which border
  SE Asia and are currently very poor
• In 2006 average Gross Regional Product in Chinese
  provinces was 745 billion yuan, while Yunans GRP
  was 400 billion yuan, and Guangxi was 407 billion
  yuan

Source China stats, UN ESCAP, ASEAN website,
miscellaneous web research
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Trans-Asian Railway
The completion of the Trans-Asian Railway project
would open up the ASEAN region to improved
logistics, particularly when trading with or
through China
There is a notable absence of linking railways
through the Lao and northern Thailand region.
Building connecting rail lines through this area
would open up the ASEAN region significantly to
China
China
Myanmar
Lao
Thailand
Vietnam
Philippines
Cambodia
Malaysia
Brunei
Malaysia
Singapore
Existing track
Indonesia
Proposed/potential track
Scale
500 km
Source UNESCAP
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Integration 1/3
Many ASEAN countries are vulnerable to food
prices as they spend 40-50 of household budgets
on food while having more people outside the agri
sector forced to buy food
Spending on Food / Total Household Budgets and
Proportion of Workforce Outside Agri Sector
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Integration 2/3
There is a distinct imbalance between net
importers and exporters which will need to be
addressed across the ASEAN region
100 Exported
Thailand Pushing rice cartel
Cambodia Lifted export restrictions
Indonesia Export restrictions
Vietnam Export restrictions
Proportion of Rice Production Exported
Laos
Myanmar Usually an exporter but recent cyclone
damage
Philippines Consumer, seed and fertiliser
subsidies
Oil revenues able to support agricultural
subsidies
Singapore wealthy enough to absorb price increases
Malaysia Large subsidies to rice farmers
Brunei
Singapore
100 Imported
100 Exported
100 Imported
Proportion of Oil Production Exported
Notes Bubble size indicate GDP per capita
2007 Source ASEAN statistics
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Integration 3/3
Government responses to high food prices are
often protectionist and highly interventionist,
which could hinder integration efforts
Reduce import duties Increase supply using stockpiles Build stockpiles Relax import restrictions Export restrictions Price controls / consumer subsidies Minimum support prices Minimum export prices Assistance / Subsidy to Farmers Promote self-sufficiency Actions against / appeal to profiteers Cash transfer Food ration / stamp
Cambodia
Indonesia
Malaysia
Myanmar
Philippines
Singapore
Thailand
Vietnam
Notes Selected countries only. Note that
Cambodia, Thailand and Vietnam are all major net
rice exporters Source ADB, World Bank
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Regulatory Framework
Ease of Doing Business Rank Rank (2007)

• The regulatory frameworks in ASEAN countries
  varies drastically
• The World Banks Ease of Doing Business ranking
  for 2007 covers 181 countries, with ASEAN
  countries ranging from number 1 to 165 and
  Myanmar not ranked
• Criteria assessed includes
• Starting a business
• Dealing with construction permits
• Employing workers
• Registering property
• Getting credit
• Protecting investors
• Paying taxes
• Trading across borders
• Enforcing contracts
• Closing a business
• This vast disparity in trade conditions across
  the region will need to be addressed

Country Rank
Singapore 1
Thailand 13
Malaysia 20
Brunei 88
Vietnam 92
Indonesia 129
Cambodia 135
The Philippines 140
Laos 165

USA 3
Australia 9
Japan 12
China 83
Source World Bank
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Agenda
Overview of Main Discussion Point
South East Asia
Potential Scenarios
Appendix
23
Potential Scenarios
It is unclear at this stage where ASEAN is likely
to go but continued growth and trade will make it
a important market and potentially a critical
market if integration lifts growth rates
Spectrum of Potential Scenarios
Integrated Approaching China type growth gt10
growth
International Mixed bilateral response 7 growth
Stagnated Political tension blocking
integration lt5 growth
Drivers

• Economic imperative to integrate and take
  advantage of comparative advantages
• External threat from China and need to unite to
  prevent an economic divide-and-conquer strategy
• Rising energy and transport costs will strengthen
  the benefits of SE Asias proximity to other
  growth countries
• Continued belief in the ability of international
  trade to drive development

• Individual ASEAN countries continue to develop
  bilateral trade agreements with various countries
  both within the region and externally
• Political tension and increasing food and energy
  prices hinder the full integration of ASEAN

• Short-term food-based protectionism may be hard
  to wind back
• Increasing poverty driven by food prices slows
  growth and weakens the trade-based logic
• Divergence of interests in the region between
  food and energy importers and exporters makes
  agreement harder

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Agenda
Overview of Main Discussion Point
South East Asia
Potential Scenarios
Appendix
25
Trade as a proportion of GDP
ASEAN is highly trade-focussed, with exports plus
imports at USD1.4Tn compared to GDP of USD 1.3Tn
compared to USA where trade of 2.2Tn is just 16
of GDP and China where trade is 65 of GDP
Trade / GDP USD 2006 ()
Source ASEAN statistics
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ASEAN Trade Partners
The main ASEAN exporters have similar trade
partners, with no bias toward the immediate region
Breakdown in main exports by destination 2006 ()
Other
Other
Other
Other
Other
China
Australia
Other ASEAN
Other ASEAN
Other ASEAN
China
China
China
Japan
China
Japan
Japan
Japan
Japan
EU
EU
EU
EU
EU
USA
USA
USA
USA
USA
Source WTO
27
ASEAN Export Specialisation
The main ASEAN exporters have specialised to some
extent but are relatively focussed on a few key
sectors
Major exports by commodity type Selected
countries, 2007 ()
Other
Other
Other
Other
Other
Other
Agri
Agri
Agri
Agri
Electronics
Machinery
Auto
Electronics
Minerals
TCF
Chemicals
Oil Gas
Oil Gas
Electronics
Machinery
Machinery
Oil Gas
Source The Economist
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Overview of Energy and Food Prices

• Both food and oil prices have been rising in
  recent years, with extremely steep increases
  during 2008
• While this is expected to level out, and across
  some commodities may decrease, prices are
  expected to stay well above decade long averages
  in the coming years
• A rise in global oil prices impacts the ASEAN
  economies in a number of ways, including
• Pushing up transportation costs
• Increasing the price of manufacturing and
  distribution of products
• Increasing demand for oil alternatives such as
  biofuels which in turn increases demand for
  grains and impacts the supply of food to the poor
  and increases food prices

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Rising oil prices
While the price rose above 135 per barrel in
July 2008, it has since dropped a small amount
and has very recently fallen below 100 for the
first time since April
Global Crude Oil Prices (1995-2008) US per barrel
Notes Price displayed OPEC Countries Spot Price
FOB weighted by estimated export volume Source
Energy Information Administration
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Rising Food Prices 1/2
Rice accounts for a large proportion of calorific
intake in South East Asia and prices spiked in
early 2008 and have doubled since 2007 levels
Source FAO
31
Rising Food Prices 2/2
There are a number of reasons cited for this
dramatic global increase

• Increased demand for food
• Population growth
• Urbanisation
• Rapid economic and social development in several
  large countries leading to shifts to more
  meat-based diets, requiring significantly more
  land to provide the same calorific intake
• Changes in the climate and the increase in
  extreme weather events (droughts, floods etc)
• Fall in the dollar and other currency
  fluctuations which have driven prices up in USD
• High energy prices leading to increased demand
  for biofuels
• Low and declining agricultural productivity in
  many developing countries due to consistent
  underinvestment in the sector
• Individual government policy responses to the
  price rises have tended to exacerbated the trend
• Export restrictions, tariffs, subsidies etc

Source FAO
32
Overview of Trade Trends in South East Asia

• In general, food prices are placing considerable
  pressure on household budgets in poorer ASEAN
  countries and Government responses vary depending
  on the context but have been generally
  protectionist and isolationist
• Over the long term, economic integration and
  development, coupled with proximity to both China
  and India, is likely to make the region an
  important growth market
• However, the political impact of rising food
  prices has placed consider attention on trade
  issues, making it harder for national governments
  to expose their economies to external market
  forces in the short term

33
ASEAN Countries Political Situation
Political Structure Current Status / Events
Brunei Hereditary Monarchy The Sultan is advised by several councils and a cabinet of ministers although he is effectively the supreme ruler. The media is extremely pro-government. There is no elected legislative body. In September 2004, the Sultan convened an appointed Parliament, although it lacks any capacity beyond advising the monarch. Brunei's leaders are concerned that steadily increased integration in the world economy will undermine internal social cohesion
Cambodia Democratic coalition after Khmer Rouge in 1999 In 2007, Transparency International's rating of corrupt countries rated Cambodia as 162nd out of 179 countries. According to this same list, Cambodia is the 3rd most corrupt nation in the South-East Asia area, behind Laos, at 168th, and Myanmar, at joint 179th. The BBC reports that corruption is rampant in the Cambodian political arena with international aid from the U.S. and other countries being illegally transferred into private accounts. Corruption has also added to the wide income disparity within the population
Indonesia Democratic republic but coming out of 40 years of authoritarian rule The president, Susilo Bambang Yudhoyono, is expected to be re-elected in 2009. The coalition government will remain subject to internal strains as the 2009 parliamentary and presidential elections approach and parties begin to distance themselves from the current administration's policies
Source The Economist, web research
34
ASEAN Countries Political Situation
Political Structure Current Status / Events
Lao Communist State close to Vietnam but liberalising The only legal political party is the Lao People's Revolutionary Party (LPRP).. Government policies are determined by the party through the all-powerful nine-member Politburo and the 49-member Central Committee. Important government decisions are vetted by the Council of Ministers. Laos is taking steps to join the World Trade Organization in the next few years the resulting trade policy reforms will improve the business environment. The Lao People's Armed Forces (LPAF) is small, poorly funded, and ineffectively resourced its mission focus is border and internal security, primarily in countering ethnic Hmong insurgent groups. There is no perceived external threat to the state and the LPA maintains strong ties with the neighboring Vietnamese military
Malaysia Authoritarian democracy Despite losing a significant number of parliamentary seats at the March 2008 general election, the ruling Barian Nasional (BN) coalition government still has a large enough majority to pass the bulk of new legislation unchallenged. Recently there has been significant political unrest with speculation that a resurgent opposition could topple a government that has ruled since 1957 when British colonial rule ended.
Myanmar Military Dictatorship The majority of ministry and cabinet posts are held by military officers. Several human rights organizations have reported on human rights abuses by the military government. ASEAN has also stated its frustration with the Union of Myanmar's government. It has formed the ASEAN Inter-Parliamentary Myanmar Caucus to address the lack of democratisation in the country. Dramatic change in the country's political situation remains unlikely, due to support from major regional powers such as India, Russia, and, in particular, China.
Source The Economist, web research
35
ASEAN Countries Political Situation
Political Structure Current Status / Expected Events
Philippines Unstable democracy with president forced to resign in 2001 by popular pressure The authority of the president, Gloria Macapagal Arroyo, is fragile, owing to allegations of government corruption. However, she retains the support of top army officers and should manage to complete her term, which ends in 2010. The president will continue to push ahead with plans to reform the constitution. The budget deficit will widen in 2008 as the government looks to support poor families amid rising food and fuel prices. The president aims to eliminate the budget deficit by 2010
Singapore Democracy The ruling People's Action Party (PAP) will dominate the political scene in 2008-09. The political reform process will remain slow. Singapore's relations with Malaysia will be influenced by political developments in that country. Government efforts to restructure the economy will centre on fiscal policy. The PAP continues to use defamation suits to silence its critics.
Thailand Democratic but unstable constitutional monarchy Thailands political scene remains seriously unstable. The possible dissolution of the People Power Party (PPP), which heads the governing coalition could cause a political crisis. The long-term issue of demarcating the Thailand/Cambodia border will be difficult and military spats are likely. The government is likely to push through an expansionary fiscal policy agenda
Vietnam Communist party holds power but enacting economic reforms The Communist Party will continue to reject demands for major political reform and will remain indifferent to calls for political pluralism in 2008-09. Vietnam's leadership is plagued by endemic corruption and will need to prove that progress is being made in order to maintain its authority. The government is set to face a number of challenging policy issues in 2008-09, most notably the need to control inflation and to reduce downward pressure on the currency
Source The Economist, web research
36
UN Asian Land Transport Networks
Asian Highway
Trans-Asian Railway
Source UNESCAP
37
Indonesia Overview
Indonesia
Population and Country
Population 237M
Age Structure 65 and over 6 Median age - 27
Growth Rate 1.2
Political System Democratic republic but coming
out of 40 years authoritarian rule
Life Expectancy 70
Religion Muslim 86
Economy
Trade
Exports 118Bn Imports 85Bn
GDP/Capita PPP 3,700
Agri Sector 14 of GDP and 43 of labour force
Imports machinery and equipment, chemicals,
fuels, foodstuffs
Unemployment 9.6
Inflation 6.4
Natural Resources 4.4B bbl oil reserves, 2.6Tn
m3 of gas
Exports oil and gas, electrical appliances,
plywood, textiles, rubber
Currency 1USD 9,000 Rupiah
38
Vietnam Overview
Vietnam
Population and Country
Population 86M
Age Structure 65 and over 6 Median age - 27
Growth Rate 0.99
Political System Communist party holds power but
enacting economic reforms
Life Expectancy 71
Religion Buddhist 9, Catholic 7
Economy
Trade
Exports 48Bn Imports 52Bn
GDP/Capita PPP 2,600
Agri Sector 20 of GDP and 56 of labour force
Imports machinery, petroleum, fertilizer, steel,
cotton, grain
Unemployment 5.3
Inflation 8.3
Natural Resources 3.3B bbl oil reserves, 187Bn
m3 of gas
Exports crude oil, marine products, rice,
coffee, rubber, tea, TCF
Currency 1USD 16,000 Dong
39
Malaysia Overview
Malaysia
Population and Country
Population 25M
Age Structure 65 and over 4.9 Median age - 25
Growth Rate 1.7
Political System Authoritarian democracy
Life Expectancy 73
Religion Muslim 60, Buddhist 19
Economy
Trade
Exports 181Bn Imports 146Bn
GDP/Capita PPP 13,300
Agri Sector 10 of GDP and 13 of labour force
Imports electronics, machinery, petroleum
products, plastics, vehicles
Unemployment 3.2
Inflation 2.1
Natural Resources 3Bn bbl oil reserves, 2Tn m3
of gas
Exports electronics , petroleum and LNG, wood,
palm oil, rubber
Currency 1USD 3.46 Ringgit
40
Philippines Overview
Philippines
Population and Country
Population 93M
Age Structure 65 and over 4.2 Median age - 23
Growth Rate 1.7
Political System Unstable democracy with
president forced to resign in 2001 by popular
pressure
Life Expectancy 71
Religion Catholic 81, Muslim 5
Economy
Trade
Exports 49Bn Imports 57Bn
GDP/Capita PPP 3,400
Agri Sector 14 of GDP and 35 of labour force
Imports electronics, mineral fuels, machinery,
iron and steel
Unemployment 7.3
Inflation 2.8
Natural Resources 0.1B bbl oil reserves, 107Bn
m3 of gas
Exports semiconductors and electronics,
transport equipment, garments
Currency 1USD 46 Pesos
41
Laos Overview
Laos
Population and Country
Population 7M
Age Structure 65 and over 3.1 Median age - 19
Growth Rate 2.3
Political System Communist State close to
Vietnam but liberalising
Life Expectancy 56
Religion Buddhist 67
Economy
Trade
Exports 1Bn Imports 1.4Bn
GDP/Capita PPP 2,100
Agri Sector 40 of GDP and 80 of labour force
Imports machinery and equipment, vehicles, fuel,
consumer goods
Unemployment 2.4
Inflation 4.5
Natural Resources None
Exports wood products, coffee, electricity, tin,
copper, gold
Currency 1USD 9,658 kips
42
Singapore Overview
Singapore
Population and Country
Population 4.6M
Age Structure 65 and over 8.7 Median age - 38
Growth Rate 1.1
Political System Democracy
Life Expectancy 82
Religion Buddhist 42, Muslim 15
Economy
Trade
Exports 450Bn Imports 396Bn
GDP/Capita PPP 49,700
Agri Sector 0 of GDP and 0 of labour force
Imports machinery mineral fuels, chemicals,
foodstuffs
Unemployment 2.1
Inflation 2.1
Natural Resources None
Exports machinery, electronics, consumer goods,
chemicals, fuels
Currency 1USD Sing 1.50
43
Brunei Overview
Brunei
Population and Country
Population 0.4M
Age Structure 65 and over 3.2 Median age - 27
Growth Rate 1.8
Political System Hereditary monarchy
Life Expectancy 76
Religion Muslim 67, Buddhist 13
Economy
Trade
Exports 7Bn Imports 2Bn
GDP/Capita PPP 51,000
Agri Sector 1 of GDP and 3 of labour force
Imports machinery, manufactured goods, food,
chemicals
Unemployment 4
Inflation 0.4
Natural Resources 1.4B bbl oil reserves, 374Bn
m3 of gas
Exports crude oil, natural gas, refined
products, clothing
Currency 1USD 1.60
44
Cambodia Overview
Cambodia
Population and Country
Population 14M
Age Structure 65 and over 3.6 Median age - 22
Growth Rate 1.8
Political System Democratic coalition after
Khmer Rouge in 1999
Life Expectancy 62
Religion Buddhist 95
Economy
Trade
Exports 4Bn Imports 5.4Bn
GDP/Capita PPP 1,800
Agri Sector 31 of GDP and 75 of labour force
Imports petrol, cigarettes, gold, building
materials, machinery, vehicles, pharma
Unemployment 2.5
Inflation 5.9
Natural Resources None
Exports clothing, timber, rubber, rice, fish,
tobacco, footwear
Currency 1USD 4,000 riels
45
Myanmar Overview
Myanmar (Burma)
Population and Country
Population 48M
Age Structure 65 and over 5.4 Median age - 28
Growth Rate 0.8
Political System Military dictatorship
Life Expectancy 63
Religion Buddhist 89
Economy
Trade
Exports 6.3Bn Imports 3.6Bn
GDP/Capita PPP 1,900
Agri Sector 50 of GDP and 70 of labour force
Imports fabric, petroleum, fertilizer, plastics,
machinery, cement
Unemployment 10.2
Inflation 34
Natural Resources 1.9B bbl oil reserves, 271Bn
m3 of gas
Exports natural gas, wood, pulses, beans, fish,
rice, clothing, gems
Currency 1USD 1,300 kyats
46
Thailand Overview
Thailand
Population and Country
Population 65M
Age Structure 65 and over 8.5 Median age - 33
Growth Rate 0.6
Political System Democratic but unstable
constitutional monarchy
Life Expectancy 73
Religion Buddhist 95
Economy
Trade
Exports 151Bn Imports 125Bn
GDP/Capita PPP 7,900
Agri Sector 12 of GDP and 49 of labour force
Imports raw materials, goods, fuels
Unemployment 1.4
Exports TCF, fish, rice, rubber, jewellery,
automobiles, computers and electrical
Inflation 2.2
Natural Resources 0.3B bbl oil reserves, 400Bn
m3 of gas
Currency 1USD 4,000 riels