EXPORTS FROM 6 ASEAN STATES DOWN BY LOW 2.2% IN 2

Exports from six Southeast Asian countries fell 2.2 percent in 2020 from a year earlier to a combined $1.35 trillion, a relatively small decline despite the coronavirus pandemic hitting the region and other parts of the world, according to data from the Japan External Trade Organization (JETRO).

Of the six, only Vietnam posted an increase in exports for the year, up 7.0 percent to $282.66 billion, with a 5.2 percent drop to Japan more than offset by a 25.7 percent rise to the United States and an 18.0 percent expansion to China, JETRO said, citing Hanoi's customs authorities, Kyodo News reported.

However, Vietnam's growing trade surplus with Washington and Hanoi's interventions in the foreign exchange market prompted the US Treasury Department last December to label the country as a currency manipulator for the first time.

Among the five other members of the Association of Southeast Asian Nations, the Philippines logged a 10.1 percent fall in exports in 2020, followed by a contraction of 6.0 percent in Thailand, 4.1 percent in Singapore and 2.6 percent each in Malaysia and Indonesia, according to JETRO, referring to statistics from respective countries.

The combined trade surplus of the six ASEAN members more than triple to $133.66 billion, as easing energy prices and shrinking domestic demand led to steeper declines in imports than exports.

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