The United States has a robust trade and investment relationship with the ten countries that comprise the Association of Southeast Asian Nations (ASEAN). These countries -- Brunei Darussalam, Burma, Cambodia, Indonesia, Laos, Malaysia, Philippines, Singapore, Thailand, and Vietnam -- collectively the United States’ fourth-largest goods trading partner and together represent a market with a GDP of more than $3 trillion and a population of 667 million people. The United States and ASEAN meet regularly on trade and investment issues, including under our 2006 Trade and Investment Framework Agreement.
ASEAN Trade & Investment Summary
U.S. goods and services trade with ASEAN totaled an estimated $520.3 billion in 2022. Exports were $160.2 billion; imports were $360.1 billion. The U.S. goods and services trade deficit with ASEAN was $199.9 billion in 2022.
U.S. goods exports to ASEAN in 2022 were $111.4 billion, up 19.0 percent ($17.8 billion) from 2021 and up 48 percent from 2012. U.S. goods imports from ASEAN totaled $336.3 billion in 2022, up 17.6 percent ($50.4 billion) from 2021, and up 174 percent from 2012. U.S. exports to ASEAN account for 5.4 percent of overall U.S. exports in 2022. The U.S. goods trade deficit with ASEAN was $224.9 billion in 2022, a 17.0 percent increase ($32.6 billion) over 2021.
U.S. exports of services to ASEAN were an estimated $48.8 billion in 2022, 12.6 percent ($5.5 billion) more than 2021, and 94 percent greater than 2012 levels. U.S. imports of services from ASEAN were an estimated $23.8 billion in 2022, 25.6 percent ($4.9 billion) more than 2021, and 62 percent greater than 2012 levels. Leading services exports from the U.S. to ASEAN were in the research and development services, professional and management services, and intellectual property sectors. The United States has a services trade surplus of an estimated $24.9 billion with ASEAN in 2022, up 2.4 percent from 2021.
U.S. foreign direct investment (FDI) in ASEAN (stock) was $359.9 billion in 2022, a 7.9 percent increase from 2021. U.S. direct investment in ASEAN is led by nonbank holding companies, manufacturing, and wholesale trade.
ASEAN's FDI in the United States (stock) was $41.2 billion in 2022, up 24.8 percent from 2021. ASEAN's direct investment in the U.S. is led by manufacturing, depository institutions, and real estate.
NOTE: Services trade data includes all ASEAN countries except Burma (Myanmar), Cambodia, and Laos.
