ASEAN summit for prosperity, Philippines’ fiscal condition

Big events were happening in Kuala Lumpur at the ASEAN Summit, which opened on Oct. 26 and ends today, the 28th.

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Last Sunday saw the 47th ASEAN Summit and President Ferdinand R. Marcos, Jr. attended. Then came the ASEAN-US Summit with US President Donald Trump, and the ASEAN-Japan Summit with Japan's new prime minister, Sanae Takaichi.

The 28th ASEAN Plus Three (with China, Japan, and South Korea) Summit was held yesterday, then the 20th East Asia Summit, the ASEAN plus India, Australia, New Zealand, the US, and Russia. Brazil and South Africa attended as observers. Today will see the handing over ceremony of the ASEAN Chairmanship from Malaysia to the Philippines, to begin on Jan. 1, 2026.

In honor of the ASEAN Summit, I gathered some basic economic data about the major economies of ASEAN six countries out of the 11 members then their major trade partners in the region, America, and Europe.

In GDP size at purchasing power parity (PPP) values, the top five are China, the US, India, Russia, and Japan. When it comes to power generation in terawatt hours (TWh), the same countries are in the top five.

Looking at the GDP growth average for 2022-2024, the top three fastest growing countries were India, Vietnam, and the Philippines. The slowest were Germany, Japan, and France.

When it comes to inflation rate, the highest are Russia, the UK, and Brazil; the lowest are China, Taiwan, Thailand, and Malaysia.