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Business and Economic Update
Issue 02

Global economic linkages

Numbers below show the degree of integration of the Philippines and other Asian countries with the world economy as of 2013.

In portfolio investments like the stock markets, Japan, China, India and Hong Kong received significant inflows while many in the ASEAN experienced net outflows overall except Vietnam.

In merchandise exports (X) as a share of their GDP, Hong Kong and Singapore are run-away leaders, followed by Vietnam, Malaysia and Thailand. The Philippines and Indonesia have low X/GDP ratio by ASEAN standards but are comparable to those of Japan, China and India.

In non-merchandise, services exports like tourism receipts, Macao is a clear leader because of its huge gaming and casino facilities. In the ASEAN, Cambodia, Laos and Thailand are the frontrunners.

Personal remittances by their nationals who are working abroad, India, China and the Philippines (and Mexico) are the world leaders. The Philippines is the uncontestable #1 in the ASEAN.

Table 7. International linkages of ASEAN economies with the global economy, 2013.
Philippines Net FDI flows by country of origin, in million US dollars
Source: World Bank, World Development Indicators (WDI) 2015.

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