ASEAN vs East Asia Nominal GDP 2021: Indonesia, China, Japan, Philippines, South Korea, Vietnam

This video compares the Nominal GDP of Southeast Asia and East Asia from 1960 to 2021.

Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. Countries are sorted by nominal GDP estimates from financial and statistical institutions, which are calculated at market or government official exchange rates. Nominal GDP does not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency. Such fluctuations may change a country's ranking from one year to the next, even though they often make little or no difference in the standard of living of its population

The ASEAN Economic Community (AEC), formed in 2015, has a combined GDP of $2.8 trillion, and is also the 3rd fastest-growing major Indo-Pacific economy in the past decade, after China and India. As a critical hub for global trade, over $3.4 trillion in global trade transits through the ASEAN region each year.

The economy of East Asia comprises 1.6 billion people (20.5% of the world population) living in 6 different countries and regions. It is home to some of the most economically dynamic places in the world, being the site of some of the world's longest modern economic booms, including the Japanese economic miracle (1950–1990), Miracle on the Han River (1961–1996) in South Korea, the Taiwan miracle in Taiwan (1960–1996) and the current economic boom (1978–2015) in Mainland China. The region includes several of the world's largest and most prosperous economies: Japan, South Korea, Mainland China, Taiwan, Hong Kong, and Macau.

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audio: CoFond_Memories
Data Source: Worldbank, IMF