Economical Structure of ASEAN

ASEAN consists mainly less developed countries except singapore,brunei and malaysia.ASEAN is basically known in the world for natural resources.Agriculture is the primary economic activity in all ASEAN countries.Following brief country wise description can provide a bird-eye view about ASEAN ecomnomic structure.
Brunei :
This small, wealthy economy encompasses a mixture of foreign and domestic entrepreneurship, government regulation, welfare measures, and village tradition. Crude oil and natural gas production account for nearly half of GDP. Per capital GDP is far above most other third world countries, and substantial income from overseas investment supplement income from domestic production. The economy of Brunei recorded a slow progress, growing at an average annual rate of 3.0 percent (3.2 percent in 2003) and GDP at current prices reached a peak of US $ 6.842 billion ($ 23600 per head) in 2003. The country has no personal income tax and low tariff region. Japan, U.S.A., Singapore, United Kingdom, Malaysia, South Korea are some of its major trading partner. Natural gas and crude oil, refined oil products are Brunei's major exportable products but machinery and transport equipment, manufactured goods and food are its major importable products. The contribution of Agriculture, Industrial and Service sector in Brunei's GDP are 5 percent 45 percent and 50 percent respectively.*

Agriculture, Industrial and Service Sector in Brunei :
Agricultural development in Brunei is very weak contributing only 5 percent of GDP in 2003. Various efforts have been made by the Government to encourage Agriculture sector during the last decade and the yield per acre has increased due to the introduction of better agricultural methods. But even than 70 percent of its food requirement fulfill by import from other countries. Rice is the principal crop in Brunei, a step towards the attainment of self sufficiency in rice, the government launched in 1978 an experimental large scale mechanized rice planting project at Kampong Was an. Fruit farming is largely performed as a small scale. There is a vast range of locally produced tropical fruits, which supply some 11% of domestic requirements of more than 14000 tones. Fisheries and Forest contributed merely 0.50 percent and 0.29 percent respectively of GDP in 2003. Forestry is legally prohibited there. The government is not so far very enthusiastic appoint developing fisheries.
The main source of Brunei Darussalam economy is crude oil and natural gas. Aside from this, Brunei also receives income from rents, royalties, corporate tax and dividends. Due to non renewable nature of oil and gas, economic diversification has been in Brunei's natural development agenda. In the current Eight National Development Plan, 2001-2005 the government has allocated more than $ 8.7 billion for the implementation of various projects and programmes. Brunei is the third largest oil producer in South-East Asia and it produced about 176000 barrels per day in 2003. It is also the fourth largest producer of liquefied natural gas in the world.
Brunei has been blessed with rich natural resources and a strategic location within the region. Human resources are central to the successful transformation of Brunei into a diversified industrial economy.
Brunei oil industry is completely dominated by Brunei shell petroleum (BSP). BSP extracts oil from seven offshore oil fields, including champion, South west Ampa, Fairly, Fairly-Baram, Gannet, Magpie and Iron Dube. BSP also operates two on onshore field (Rasan and Seria-Tali). Another field, egret, is expected to come online for oil production in 2006.*
Brunei is well served by several commercial banks with branches throughout the country. Brunei operates a currency board system and has no central bank. The Government under the Banking Acts and Finance Companies Act regulates to banking industry. There are currently no exchange controls in Brunei. There are 9banks (3 incorporated in Brunei) with branches throughout the country.
Brunei's small population accounts for its limited labour force, with the implementation of ambitious plans in recent year, the country has had to recruit both skilled and unskilled labour from abroad.
Brunei Darussalam's vision is to promote the country as a unique tourist destination and gate way to tourism awareness of Brunei as a holiday destination, to maximize earnings of foreign exchange and make tourism as one of the main contributor to GDP. The proportion of service sector in Brunei GDP is 50 percent. Presently, Brunei is are the most developed nation in ASEAN with Singapore and Malaysia.
Cambodia :
Cambodia's economy slowed dramatically in 1997-1998 due to the regional economic crisis, civil violence, and political infighting. Foreign investment and tourism fell off. In 1999, the first full year of peace in 30 years, progress was made on economic reforms. Growth resumed and has remained about 5.0% during 2000-2003. In 2003 as per estimates of the world bank, GDP reached the level of US $ 22.76 billion with an average growth rate of 5.5 percent from last three years and per capita income was US $ 1700 in 2003. Population below poverty line is 36 percent of the total population.
Cambodia exports mainly traditional goods like clothing, timber, rubber, rice, fish, tobacco, and footwear, while it imports mainly petroleum products, cigarettes, gold, construction materials, machinery, motor vehicles, pharmaceutical products. Major trading partners of Cambodia are Hon Kong, China, Taiwan, South Korea, and ASEAN countries.

Agriculture is the main sector of the Cambodia economy. It is contributing 30 percent of GDP in 2003. Almost 75 percent of the total population directly or indirectly involve in this primary sector. Rice, rubber, corm, vegetables, cashews etc. are some important agriculture products.While industrial sector growing smoothly since few years and contributing 40 percent of GDP. presently, garments, rice, milling, cement, textiles etc are some major industries in Cambodia. Tourism was Cambodia's fastest growing industry, with arrivals about 40 percent in 2002 and another about 40 percent in 2003 after the September 11, 2001 terrorist attacks n the U.S. Cambodia expects 1 million foreign tourist in 2004. Economic growth has been largely driven by expansion in he clothing sector and tourism. he population lacks education and productive skills, particularly in the poverty-ridden country side, which suffers from an almost total lack of basic infrastructure. Feon of renewed political instability and a dysfunctional legal system coupled with government corruption discourage foreign investment. The Cambodian government continues to work with bilateral and multilateral donors to address the country's many pressing needs. The major economic challenge for Cambodia over the next decade will be fashioning an economic environment in which the private sector can create enough jobs to handle Cambodia's demographic imbalance.

Indonesia :
Indonesian economy is predominantly agricultural having extensive natural wealth, with a large and rapidly increasing population. It remains a relatively middle income country. It is world's second largest producer of natural rubber (after Thailand) and third largest producer of coffee and now the world's largest exporter of plywood accounting for about 50 percent of the total world market. It is also the world' leading exporter of LNG and the production of tin made Indonesia the world's third largest producer (after China and Brazil) in 2003.* Being the only Asian country member of OPEC Indonesia's output is 1.451 Million 0.661 per day. Since Indonesia has a large quantity of uncharted natural wealth, only about 10 percent of the area of the country has so far been properly surveyed for mineral deposits. Important minerals include tin, Nickel, timber, bauxite, copper, coal, gold, silver etc. In 2003 Indonesia's GDP per head was US $ 3500 making it a middle income country. The average annual increase in over all gross domestic product (GDP), measured in constant prices, was 4.8 percent in 1999-00 which declined to 4.0 and 3.9 percent in 2000-01 and 2001-02, and further increased to 4.1 percent in 2002-03.Agriculture is the dominant sector of the Indonesian economy and it is divided into two sub-sectors.Small holder Agriculture producing mainly rice.
Estate Agriculture producing cash crops almost entirely for export.Agricultural sector contributes about one-seventh of GDP and employs approximately 45 percent of the total labour force in agriculture forestry and fishing. About 10 percent of Indonesia total land area is under cultivation.Rubber is Indonesia's largest agricultural export commodity with over 35 percent of the total production being sold abroad. Rice is second important crop of Indonesia. Other crops such as copra, Soybean and sugar cane, have shown a sizable rise in output. Among the forest products, timber occupies a place of considerable importance in Indonesian economy.
In Indonesia industrialisation is still at a nascent stage. The government has been encouraging labour intensive small scale sector to solve her twin problems of unemployment and production scarcity. The small scale sector now accounts for one sixty of the total population in the manufacturing industries. Over 70 percent of total 16 percent labour in the manufacturing sector working are employed in this small scale sector. The government offers attractive incentives to local private entrepreneurs as well as to foreigners. Industries like railway and shipping, mining and steel and plantations, are operating in the country, However, the small size of domestic market, infrastructure are undoing the gains of industrialisation. Inspite of rapid growth rate, the industrial sector contributed 45 percent of GDP in 2003.
While service sector in Indonesia economy contributed 40.4 percent during the same period. In service sector, Indonesia has a sound transport and communication system which is a significant feature of its economy Inter-Island shipping is conducted by State and private shipping lines. Railway and road routes are limited and international airline services are handled by the state.
The banking system is modern and very efficient. Indonesia has both state owned banks and private banks. Banks in joint venturing are also opening. Almost all major international banks have a presence in Indonesia. A leading stock exchange in Jakonta is also operating. For the future growth in the economy of Indonesia remain internal reference, building up the confidence of international and domestic investors and strong global economic growth.
Laos:
Laos is one of the world's poorest countries. The disruption during the civil war period and the economic policies of the early years of the LPDR - Notably the attempt to collective agriculture resulted in economic stagnation in the country. Government introduced market oriented references subsequently, private enterprise has been allowed to operate on every level, and foreign investment has been encouraged. A number of non-governmental organizations, including some from the United Stages, have been assisting the government, mainly in the fields of rural development and public health.
Laos has a number of mineral resources including coal, iron, copper, lead, gold, tin, gypsum and precious stones. Tin has been mined commercially since colonial times,and gypsum has become important the other minerals have been worked only in primitive and unsystematic ways.
Laos has considerable hydroelectric power potential. Electricity produced from a dam on the Naym River north of Vientiane and sold to Thailand is one of the country's most valuable exports. In 2003, total GDP of Laos was on the level of US $ 2 billion, which was lowest during the same period in all ASEAN country and per capita income US $ 320. The country exports mainly garments, wood products, coffee, electricity and tin whereas imports mainly machinery and equipment, vehicles, fuel and consumer goods. China, Germany, France, U.K. and ASEAN countries are major trading partners of Laos.
The chief occupation of the people is agriculture, with the vast majority engaged in rice farming. In addition to a variety of food crops, modest amounts of such cash crops as sugarcane, tobacco, and coffee are produced. In this sector, 80 percent of labour force working there and it is contributing one half of total GDP of Laos.
The main activities of the country's tiny industrial sector are food processing (rice milling and beverage production), raw milling, and the manufacture of building materials and a variety of light consumer goods. Handicrafts also are important. This sector is contributing 27.5 percent of total GDP.Until the late 1980s,the government controlled all banking activities. Since then it has fostered the development of a private banking sector. Foreign investment and joining ventures with foreign companies have been officially encouraged.
A major obstacle to the economic and social development of Laos has been its poor transportation system. Rivers and roads are the major avenues of communication, supplemented by air transport. The Mekong River is the major north-south commercial artery. Lao itself has no railway section and no international airport.
Malaysia :
Malaysian & economy is a revilient economy and relies an export related growth. Malaysia suffered a lot during the south-east Asian currency crisis. However, it also recovered the fastest and emerged fundamentally stronger in the form of multi-sector economy. The economy grew 4.9 percent in 2003 from 4.1 percent in 2002, not withstanding a difficult first half, when external pressure from SARS and the Iraq war led to caution in the business community standard of living is very high and per capital income is around US $ 9700 in (2003) which is one of the highest in ASEAN region after Singapore and Brunei. In 2003, Gross domestic product remained US $ 229.3 billion, with an average growth rate of 4.6 percent. Singapore, U.S.A., Japan, China, Hong Kong, are major trading partner of Malaysia. Malaysia is rich in mineral deposits like petroleum, tin, iron-ore, gold, bauxite etc. And the mining sector accounted for about 40 percent of the country's overall export earning in 2003. Such a huge production of petroleum in Malaysia could be possible because Malaysia not being a member of OPEC, is free to increase its production. Major exportable items from this country are electronic equipment, petroleum and LNG, wood and wood products. Palm oil, rubber, textiles, chemicals whereas. Machinery, plastics, vehicles, iron and steel products, chemicals are major importable items of Malaysia.
Agriculture played a predominant role in Malaysian economy but in this industrial world Malaysia is not for behind. Presently, Malaysian economy shows a reputation of developed country Industry and service sector plays a significant role in Malaysian economy. Due to rapid expansion of the manufacturing sector its contributed to country's GDP was 33.5 percent in 2003. Electronic equipment petroleum, chemical and machinery tyre, sugar, tin, cement, LNG, Car, Cigarettes are some etc main industries in Malaysia. These industries use little domestic contents and are capitalized and owned mostly by foreigners and located in sheltered free trade zones. Although the foreign owned companies helped create jobs, yet they diversified the country's economy which was mainly dependent on rubber and tin and thus made Malaysia a leading exporter in the world. The government aims at reducing state investment and public expenditure and at increasing the private sector's contribution accordingly.
The government aims at promoting such type of manufacturing industries as would be based either on commodities that Malaysia produces in their raw or semi-processed form or which can be built up on existing manufacturing capabilities. It highlights the agro-based industries for development. Electronics and electronically industries are likely to show the most impressive growth over the next decades.
Service sector is leading in the Malaysian economy. It contributed 57.2 percent of total GDP in 2003. Transport and communication system is excellent. There are frequent services by air and sea between Peninsular Malaysia, Sarawak and Sabah. The country have 117 airports and a good network of railways and roads.
Banking sector which is a basic part of the economy is comprising state-owned and private labs. A leading stock exchange is also working satisfactory in catering to the financial needs of the country.
Myanmar :
Myanmar has a mixed economy. The private sector dominates in all sectors of economy. The state controls mainly the energy, heavy industry, and the rice trade. Government policy in the 11 years, 1998-99 was aimed at revitalizing the economy within three decades of tight central planning, but recently many of those reforms have been cancelled. This had enabled to the private sector to grow. Though foreign investment has been encouraged, it has so far met with moderate success. This is because foreign investors are not compelled to trust the junta government policies. The public sector enterprises remain highly inefficient and also privatization efforts have stalled. The estimates of Myanmar's foreign trade are highly ambiguous because of the great volume of black market trading.
A major ongoing problem is the failure to achieve monetary and fiscal stability. Due to this, Myanmar remains a poor Asian country with no improvement of living standards for the majority of the population over the past decade. The main causes for continued shiggish growth are. Poor government planning; Internal unrest minimal foreign investment, and the large trade deficit. One of the recent government initiatives is to utilize Myanmar's large natural gas does its. Myanmar is one of the poorest ASEAN countries in terms of per capital income. It was US $ 800 in 2003. During the save period gross domestic product of the country was billion 74.53US %$.
A big majority of labour force around 65 percent working in agriculture sector whereas only 10 percent in industry sector. Myanmar exports mainly agriculture products like pulses and beans, prawns, fish, rice, teak etc. While machinery, transport equipment, food stuff etc are some importable products for Myanmar, China, Japan and ASEAN countries are leading trading partners of Myanmar.
The majority of Labour force shows in itself that Myanmar is an agrarian nation. This sector contributes almost one sixty of total GDP. Rice is the main agriculture product. About 60 percent of total production export to the trading partners. Maize, oilseed, sugarcane, pulses and beans, hard wood are also widely cultivated in different parts of the country.Only 7 percent of labour force worked under industrial sector. This sector contributed only 8.8 percent of GDP. Industries which are working in Myanmar are agricultural processing textiles and footwear wood and wood products. Metallurgical industry copper, tin, tungsten, Iron, construction materials pharmaceuticals fertilizer industry.
The participation of service sector in GDP is 34.5 percent I 2003. Transport and Communication system are working properly.
Banking system is also working properly but in Feb. 2003, a major banking crisis it the country's 20 private banks, shutting them down and disrupting the economy.
Philippines :
The Philippines was less severely affected by the Asian financial crisis of 1998 than its neighbours, aided in part by annual remittances of $ 7-8 billion from overseas workers and no sustained run up in asset prices or foreign borrowing prior to the crisis. From a 0.6% decline in 1998, GDP expanded by 2.4 percent in 1999, and 4.4 percent in 2000, but slowed to 3.2 percent in 2001 in the context of a global economic slow down, an export slump, and political and security concerns. GDP growth accelerated to 4.3 percent in 2002 and 4.7 percent in 2003, reflecting the continued resilience of the service sector, and improved exports and agricultural output. In 2003 gross domestic product of Philippines was billion 430.6 US $ and per capita income about 5000. Philippines exports mainly electronic equipment, machinery and transport equipment, garments, optical instruments, coconut products etc whereas imports mainly raw materials, machinery and equipment, fuels, vehicles and vehicles parts, plastic, chemicals, grains etc. Major trading partner of Philippines are US, Japan, Taiwan, South Korea, China and ASEAN countries.The economic system of the Philippines is based mainly on the private sector's initiative, although governmental regulation of business is increasingly evident, the state has already taken over a number of enterprises. Areas of economic activities in which the state is involved, range from banking and finance, sugar, trading, oil refining, steel making, transport and power generation to hotel operation. This growing participation by the government has led to a certain amount of uncertainty among investors since a project may face a different set of rules when it is initiated from what it was when the project was first conceived.
The Philippines is rich in minerals such as gold, silver, copper, iron, chrome, manganese, mercury, nickel, zinc, lead, moly belenum, platinum, palladium, cadmium, cobalt, uranium, silica, limestone, gypsum etc. Copper is one of the largest export earners followed by gold and nickel.
Agriculture including like stock production, forestry and fisheries accounts for about 14.8 percent of the country's GDP.About 36 percent of labour force working under this primary sector. The most important agricultural products are rice and maize for domestic consumption and coconut oil, copra, timber and sugar for export. The Philippines is the world's largest producer and exporter of coconut and coconut products. The Philippines holds the world monopoly in abaca (Manila homp) and is one of the world's largest exporters of sugar. It also ranks among the world's top banana producing countries. Export of timber is also an important source of foreign exchange, coffee, rubber, cocoa and tobacco are other important export commodities.
The industrial sector accounted for 31.9 percent of GDP in 2003 and showed a fairly impressive average growth rate of more than 5 percent per annum. The electronic industry has become one of the biggest industries of the country and employs about 2 lakh workers in assembling and packaging. The early policy for industrial growth concentrated an import substitution by developing small scale industries passed on processing of primary products. Later on, like other developing countries of the far east, the emphasis was shifted in favour of export-oriented products. This led to the expansion of industries like textile, electrical machinery and a wide range of electronic products and components. Such liberalization would provide a stimulus for domestic industries to develop on a competitive basis to enable them to survive in the international trade.
Transport and communication network which is essential aspect of economic growth is on a long scale shipping plays a considerable role. The Philippines Air Line provides better service. Hence tourism has become a significant sector of the economy. The Banking and Health sector is also in a better position. Overall service sector accounted for 54.3 percent of GDP in 2003.
Singapore :
The economy of Singapore is a highly developed and successful free market economy in which the state plays a major role. It has remarkably open and corruption free business environment, stable prices, and one of the highest per capita income and gross domestic products (GDP) in the world. In 2003, GDP of Singapore accounts US $ 109.4 billion and per capita income US $ 23700. Trade continued to play on important role in the economic growth of Singapore because of its strategic location and its well established infrastructural bas as well as political and economic stability. Singapore's conducive trading environment is further enhanced by its free trade policy which has resulted in its trading with almost all the nations of the world. Singapore has limited natural resources and relies an imports for most of its basic requirements. Exports, particularly in electronics and chemicals, and services provide the main source of revenue for the economy, which allows it to purchase natural resources and row goods which it does not have. Singapore could thus be said to rely on an extended concept of entrepot trade, by purchasing raw goods and refining them for re-export, such as in the wafer fabrication industry and oil refining. Singapore also has a strategic port which makes it more competitive than many of its neighboure to carry out such entrepot activities. In addition Singapore's port infrastructure ad skilled workforce due the success of Singapore's education policy in producing skilled workers is also fundamental in this aspect, by providing easier access to markets for both importing and exporting, and providing the skill needed to refine imports into exports.
Singapore's economic strategy proved a success, producing real growth that averaged 8.0 percent from 1960to 1999.. The economy picked up in 1999 after the regional financial crisis, with a growth rate of 5.4 percent, followed by 9.9 percent for 2000. However, the economic slowdown in the United states, Japan and the European Union, as well as the worldwide electronics slump, has reduced the estimated economic growth in 2001 to a Negative 2.0 percent. The economy expanded by 2.2 percent the following year, and by 1.1 percent in 2003 when Singapore was affected by the SARS out break.
Singapore exports mainly machinery and equipment (including electronics) Chemicals, mineral fuels whereas imports mainly machinery and equipment, mineral fuels, chemicals and food stuffs. USA, Hong Kong, Japan, China, Taiwan, South Korea are major trading partners of Singapore.
Agricultural development in Singapore is almost negligible or nil. The country mainly strong in industrial sector. Industrial sector's share in the GDP was 32.2 percent in 2003. The electronics industry leads Singapore's manufacturing sector, accounting for 50 percent of Singapore's total industrial output, but the government also is prioritizing development of the chemicals and biotechnology industries.
To maintain its competitive position despite rising wager, the government seeks to promote higher value-added activities in the manufacturing and services sectors. It also has opened, or is in the process of opening, the financial services, tele communications, and power generation and retailing sectors to foreign service providers and greater competition. The government has also pursued cost-cutting measures, including wage and rent reductions, to lower the cost of doing business in Singapore.
The transport and communication sector achieved the highest productivity. The republic of Singapore is saved by a fully automatic island-wide communication network. The computerized circuit switching centre enables instant transmission of telex and telegraph messages around the world along with the facilities of automatic international telephone calls practically to all parts of the world.
Singapore has a excellent banking system. Both, private and public sector banks are working together and a leading stock exchange catering to the financial needs of the country. The banking sector is very efficient, modern and having a sound reputation in international market.
Thailand :
Thailand has a free-enterprise economy and welcomes foreign investment. Exports feature textiles and footwear, fishery products, rice, rubber, jewellery, automobiles, computers and electrical appliances. Thailand has recovered from the 1997-98 Asian Financial crisis and was one of east Asia's best performance in 2002. Increased consumption and investment spending and strong export growth pushed GDP growth up to 6.3 percent in 2003 despite a sluggish global economy. The highly popular government has pushed an expansionist policy, including major support of village economic development. Gross domestic product in this period was US $ 475.7 billion, with per capital income of US $ 7400. Thailand exports mainly computers, office machine parts, transistors, rubber, vehicles, plastic, and seafood whereas capital goods, intermediate goods and raw materials, consumer goods and fuels are its major importable items. Thailand major trading partners are Japan, USA, China, Taiwan and ASCAN countries.
Thailand's economy is predominantly agricultural with more than one third of the total area of the country under cultivation and the rest being mostly forest and setup. Agriculture is mainly in the bands of the private sector. The share of this sector in GDP was 9 percent in 2003. But even than 50 percent of labour force working directly or indirectly in this sector. Thailand is the world's largest exporter of rice, rubber, sugar and cassava. As regards the production of rubber, Thailand ranks first in the world. Other important crops are maise, sugar-cane, forest product timber etc.
The industrial sector has been growing fast thanks to the government's attention and effort towards the proper development of the economy through a policy of industrialization. It is generally characterized by small to medium sized enterprises. The sector accounts for 44.3 percent of the GDP and employs about 14 percent of the working population in 2003. The principal industries are textiles, sugar, vehicle, cement, petroleum etc. As the economy steadily grows, the domestic market looks increasingly attractive for investors.
Transport and communication system is not up to a good level. Although the government made efforts to develop roads and road transport in the country yet there is not developed railway system. It has only 4.071 km. Route. There is an extensive network of transport for bulk goods. Major ports are the junctions of international trade. The part of Bangkok is an important ocean junction in ASEAN region. Only Air Line services come up to world Standards. Banking sector is also working significantly and stock exchange are also playing effective role.
Vietnam :
Vietnam is a poor, densely-populated country that has had to recover from the ravages of war, the loss of financial support from the old Soviet Block, and the rigidities of a centrally planned economy. Substantial progress was achieved from 1986 to 1996 in moving forward from an extremely low starting point-growth averaged around 9 percent per year from 1993 to 1997. The 1997 Asian financial crisis highlighted the problems in the Vietnams economy, but rather than promoting reform, reaffirmed the government's belief that shifting to a market oriented economy would lead to disaster. GDP growth of 8.5 percent in 1997 fell to 6 percent in 1998 and 5 percent in 1999. Growth then rose to 6 to 7 percent in 2000-02 and 7.3 percent in 2003, resulted GDP reached billion 203.9 US $. In the some period per capita income was US $ 2500, crude oil, marine products, rice coffee, rubber, tea, garments and shoes are some major exportable items of Vietnam whereas machinery and equipment, petroleum products, fertilizer, steel products, raw cotton, grain cement and motor cycles are main importable products. Taiwan, South Korea, China, Japan, Hong Kong, etc are major trading partners of Vietnam.
Agriculture plays a leading role in the economy of Vietnam. Its contribution is 21.8 percent of GDP but over 60 percent of working people directly or indirectly involved to it. Mair agriculture products of Vietnam are paddy rice, corn, potatoes, rubber, soybeans, coffee, tea, bananas, sugar, poultry, pigs and fish. Rice is the leading exportable item for this country.
In this industrial world every and each country has to be self sufficient in industrial sector Vietnam is now on the path of industrial development. This sector is contributing about 40 percent of GDP. Almost all types of industries working there, mains are food processing, garments, shoes, machine building, mining, cement, chemical fertilizer, glass, tires, oil, coal, steel and paper. Industrial production growth rate is between 10 to 12 percent in 2000-03.
Transport and Communication system is upto an international level. The country is putting considerable effort into modernization and expansion of its communication system, but its performance continues to lag behind that of its more modern neighbours. Transport system is good enough. There are 19 airports total service sector accounts for 30.5 percent of GDP.
The agricultural, industrial and service sector picture of ASEAN region shows that region is basically rich in agriculture and roughly 60 percent of the total economically active population of ASEAN except of course in the city state of Singapore, engaged in agricultural activities. Nevertheless the agricultural sector is basically backward and remains stagnant as compared to the other economic sectors which are growing rapidly due to modernisation through foreign collaboration. Naturally its share in the total GDP is declining day by day. Even then, ASEAN region countries have a prestigious image in international market due to their agricultural products. The agricultural scene as a whole continues to be a black one whereas this region has achieved substantial industrial progress accompanied by a noticeable structural change, yet much remains to be done before the countries of this region rise to a viable economic level.
(Source : (i) World Bank Atlas 2003 (ii) Europe Year Book 2003 (Vol. 1)