EU-ASEAN trade

The European Union and ASEAN (the Association of Southeast Asian Nations) together account for over one fifth of global GDP and have a population of 1.1 billion (over 14% of the world’s total). As a group, ASEAN is the EU's third-largest trading partner outside Europe, after China and the US.

About ASEAN

ASEAN is an intergovernmental organisation comprising 11 countries: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Timor-Leste, Thailand and Viet Nam. The most recent member of ASEAN – Timor-Leste – joined in October 2025.

Combined, they represent around 6.3% of global GDP. The population of ASEAN countries in 2024 exceeded 686 million.

Map of Southeast Asia with eleven ASEAN states marked: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Timor-Leste, Thailand and Viet Nam.

Trade in goods

In 2024, EU-ASEAN trade in goods was worth €258.8 billion: €94.3 billion in exports and €164.5 billion in imports.

In the last decade, EU-ASEAN trade in goods has grown by almost 67%. Imports have increased by over 90%, while exports have grown by almost 37%.

€164.5 billion of imports

Square chart symbolising trade in goods.

€94.3 billion of exports

Five out of 11 ASEAN countries (Viet Nam, Singapore, Malaysia, Thailand and Indonesia) are responsible for almost 90% of total trade with the EU.

Top goods traded between the EU and ASEAN

machinery and appliances

transport equipment (exported by the EU)

chemical products

textiles (imported by the EU)

Trade in services

In 2023, trade in services between the EU and ASEAN was worth €132.1 billion, with balanced imports and exports (each slightly over €66 billion). Between 2013 and 2023, trade in services between the EU and ASEAN countries grew by 146%.

€66.1 billion worth of EU imports

Square chart showing EU-ASEAN imports and exports in services.

€66 billion worth of EU exports

Over 60% of EU-ASEAN trade in services is generated between the EU and Singapore, 10% with Thailand, 8% with Malaysia and slightly over 6% with Vietnam and the Philippines.

Top services traded between the EU and ASEAN

transport services

other business services (e.g. professional and management consulting services)

telecommunications, computer and information services (EU exports)

charges for the use of intellectual property (EU imports)

Foreign Direct Investment

The EU is the third-largest investor in ASEAN countries. In 2023, its Foreign Direct Investment (FDI) stocks in ASEAN accounted for over €372 billion.

Although a more recent phenomenon, ASEAN investment in Europe has also been growing steadily and impressively, reaching a total stock of over €336.8 billion in 2023.