Recent Release | 11 Oct 2022

The Economic Impact of the Agri-Food Sector in Southeast Asia (2022)

Macro Consulting Team

Oxford Economics

agri-food-sector-in-southeast-asia

A comprehensive analysis of the economic contribution the agri-food sector makes to Southeast Asia, through five key markets: Indonesia, Malaysia, the Philippines, Thailand and Vietnam. We explore the demand outlook for the sector and the challenges it faces in the current global economic context, and the longer term.

This study builds on the foundations of our previous collaboration with Food Industry Asia in 2021, in which we redefined the agri-food sector to include three components of the food value chain: agricultural production; food and beverage (F&B) manufacturing; and F&B distribution (including wholesale, retail and hospitality services).

In 2021, the agri-food sector contributed USD 808.7 billion to the five Southeast Asian economies in our study (see Fig 1). This impact is 21% higher, in real terms, than it was in 2015—the first year of our analysis.

Nevertheless, there are significant risks on the horizon for the agri-food sector, not least four major macroeconomic challenges that could hinder the sector’s progress: inflation, changing demographics, currency instability, and fiscal policy risks. Compounding those challenges, is the need for innovation and investment in reforms that will make the sector more sustainable and resilient to future environmental and economic shocks.

About the team

Our macro consulting team are world leaders in quantitative economic analysis, working with clients around the globe and across sectors to build models, forecast markets and evaluate interventions using state-of-the art techniques. Lead consultants on this project were:

James-Lambert
James Lambert

Director of Economic Consulting, Asia

Matthew Tinsley

Lead Economist, Economics & Sustainability

You might be interested in

Enabling North American Graphite Growth

This report explores the global graphite market, rationales for trade action on Chinese graphite, and the history of Section 301 tariffs on US imports of graphite anode material from China.

Find Out More
Economic impacts of “Pitch Perfect: Bumper in Berlin” in Germany

This study, commissioned by the Motion Picture Association (MPA), focuses on the show “Pitch Perfect: Bumper in Berlin”, and analyses the production’s total economic impacts in Germany in 2022, when the series was filmed. The study also considers the wider impact on Germany’s economy.

Find Out More
The Impact of the Longevity Workforce on the Resilience of Spain’s Economy

This study investigates how Spain’s ageing workforce should be seen as an antidote to financial shocks and an ingredient for future economic success.

Find Out More
Exploring the implications of higher pension contributions in the UK

Oxford Economics have collaborated with and Royal London to explore the implications of increasing mandated minimum pension contributions in the UK.

Find Out More