CHART OF THE WEEK May 7, 2021: ASEAN-6 ICT Goods Exports

Click for enlarged image | Graphic by Lee Shu En

Summary

The digitalization waves during the COVID-19 pandemic generated higher demand for information and communication technology (ICT) goods such as silicone chips, electronic components, and communication equipment. Riding on this trend, this week’s chart reflects ASEAN-6 countries’ positions in the ICT goods exports. 

Highlights

  • The ICT goods exports in Singapore is the highest in the region, followed by Viet Nam and Malaysia. 
  • As one of the most advanced and digitalized economy in ASEAN, Singapore continues to support its digital and ICT growth via the Smart Nation initiative and Industry Transformation Maps (ITMs). The increasing uptake of digital solutions creates further demand for information and communications infrastructure.  
  • Malaysia’s ICT sector is one of the largest sectors in the country, contributing to 18% of its GDP in 2018. The country’s national policy on Industry 4.0 places a special emphasis on artificial intelligence, robotics automation and internet of things (IoT). 
  • Vietnam’s ICT exports shows the highest average annual growth of 36.3% from 2010-2019. The country’s high growth is driven by proactive government support for the digital economy and industry. Vietnam’s National Programme for Digital Transformation covers a wide range of digital development areas, including financial technology and digital banking, e-commerce, technological infrastructure, e-sports, IoT and cloud computing. 
  • The Philippines’ annual growth in ICT goods exports is the second highest amongst the six countries in the region. The ICT goods exports consists of 49% of total goods exports in 2019, the highest in ASEAN. The country’s large electronics industry is complemented by the 2020 digital transformation roadmap spearheaded by the country’s Department of Information and Communications Technology (DICT).  

By LIEW Wan Yin, Doris

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