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Banking and insurance
The Banking & Insurance sector – often referred to as the lifeblood of the real economy – is of vital importance in the modern credit-driven economic growth model. Among its functions are intermediation between savers and borrowers, ensuring funds are allocated efficiently; support of payment and settlement systems that facilitate trade and international economic relations; and provision of various products that mitigate risk and uncertainty. The accelerating pace of technological change, stricter regulation and shifting consumer habits are reshaping the traditional banking model and pushing the sector towards innovation-led growth.
Activities associated with Banking & Insurance are depositary and non-depositary credit intermediation and related activities, investment banking, securities brokerage, commodity contracts dealing and diverse financial investment activities. The sector also includes insurers, re-insurers and insurance brokerages, pension funds, health and welfare funds, monetary authorities, stock exchanges, and collection and credit agencies.
The ASEAN region has a significant influence on the global electronics market. Thailand, Indonesia, and Malaysia are the primary suppliers of hard disc drives (HDDs), essential components for computer data storage. Approximately 60% of China's HDD ...
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Four-wheel motor vehicle production in ASEAN (particularly Thailand, Indonesia, Malaysia, the Philippines, Vietnam and Myanmar) dropped by 31.6% y/y in 2020 due to the negative effects of the COVID-19 pandemic. However, output saw a strong rebound in ...
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The countries of the Association of Southeast Asian Nations (ASEAN) are a vastly diverse and uneven landscape in terms of infrastructure development. For instance, Singapore is a perennial global leader in infrastructure quality whereas other ...
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Thailand's consumer goods and retail sector has matured substantially in recent decades, coinciding with the country's rapid economic growth. The domestic demand for discretionary spending is driven by the growing middle and affluent classes in ...
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The oil and gas sector powers the economies of a number of countries in ASEAN, playing a key role in meeting the rising energy needs of one of the fastest growing regions of the world. Major oil and gas producers in the region are Indonesia and ...
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In 2023, the global machinery and equipment sector expanded by 7.6%, driven by infrastructure projects and the demand for industrial, construction and agricultural machinery amid pressures from inflation and supply chain constraints. Key trends ...
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Thailand is the third largest producer of crude oil and natural gas in ASEAN. The oil and gas sector benefits from Thailand's strong economic fundamentals, as energy plays a critical role in sustaining its growth. However, with consumption on the ...
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To categorize specific countries, this report employs multiple geographic regions. Geographical regions are defined in this report to account for the potential discrepancies between the references to each region and those that are commonly ...
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The ASEAN region, as covered by the scope of this report, comprises the countries of Indonesia, Malaysia, the Philippines, Thailand, and Vietnam. The only exception is regional external trade which includes the performance of the ten ASEAN members ...
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