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Explainer | How dependent are these 6 major Asian economies on the US market?

A Post review of official data determines share of exports from major Asian economies to the US, as a percentage of their national GDP

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US President Donald Trump holds up a list of countries covered by his “reciprocal tariffs”, on April 2. Photo: TNS

Even as Washington’s sweeping new tariff announcement appeared to come as a shotgun blast scattered across dozens of nations, Asian economies emerged as primary targets in US President Donald Trump’s crosshairs.

And with the region staring down the barrel of more devastating trade consequences as the new tariffs are due to take effect on Wednesday, a shadow has fallen over economic growth in the region.

Based on official data compiled by financial data provider Wind, the Post has calculated the share of exports from some major Asian economies to the United States, as a percentage of national gross domestic product (GDP) in 2023 – used as one indicator to delve into their dependency and exposure to potential risks.

Below are our findings, ranked by the level of their dependency on the US market. The first entry, Vietnam, depends most on the US market among these six trade partners, while China’s place on the list could be surprising.

02:48

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Vietnam

“Hefty tariffs, especially on Vietnam and Thailand, pose significant growth challenges. That’s not just because of direct exposure to US imports, but also indirect hits via exports to the US through other countries,” ING said in a research note on Thursday.
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