Rationale the analysis deals with aggregate exports of goods

Rationale of the study
Most of the studies found in literature relate to either individual countries or some groups of countries e.g. East Asia, SAARC and ASEAN etc. There is lack of comprehensive research relating to this topic on whole of ASEAN particularly developing Asia. Therefore, selected region in the study comprises three sub-regions namely Indonesia, Malaysia, Philippines, Singapore, Thailand and Brunei. The study incorporates the effect of normal exchange rate, production level or gross domestic product and inflation, interest rate, foreign direct investment (FDI) inflows and trade openness along with conventional demand and supply factors. It also investigates inter-country variation in export determinants. Another purpose of the study is to measure the extent of various factors affecting export performance. Further the analysis deals with aggregate exports of goods & services while most of available literature relates to merchandise exports or its components.

Growth performance of ASEAN 6 Economies
Most of the old member ASEAN 6 economies have experienced high growth in their exports during the study period. Singapore and Thailand, experienced double digit exports growth for more than three decades period. Similarly these economies experienced high GDP growth during the study period. GDP growth was exceptionally high in case of, Singapore and Malaysia. (Table-1)
Table (1)

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Name of
Country

Area
(km2)

Pop in
2015
(000 persons)

GDP growth rate (%)
2000 and 2015

GDP 
2000 and 2015
(Current price US$)

GDP per capita in 2000 and 2015 (US$)

Export Value in 2000 and 2015 (US$ Millions)

Brunei

5,765

417

2.8

2.8

3903 

12,909

18,155

30,555

3,902

66,600

Indonesia

1,913,578

255,462

3.6

3.6

65403

857,603

780

3,347

65,403

1502,824

Malaysia

330,290

30,485

8.9

8.9

98,229

294,390

4004.5

9,768

98,229

199,869

Philippine

300,000

101,562

4.3

4.3

39,783

289,503

1,040

2,904

39,783

58,647

Singapore

719

5,535

8.89

8.89

137,804

291,938

23793

58,888

137,804

350,506

Thailand

513,120

68,979

4.5

4.5

69057

395,726

2016

5,814

69,057

214,375

Total

3,063,472

462,440

5.5

5.5

414,179

2,142,069

8298.083333

18546

414,178

2,392,821

Source: ASEAN Statistics 2016