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.

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

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

+65 6850 0125

James-Lambert

James Lambert

Director of Economic Consulting, Asia

Singapore

James is the Director of Oxford Economics’ economic consulting services in Asia.

James moved to this role from Oxford Economics’ London office, where he headed up a team dedicated to exploring the economic impact of technology. He delivered high profile studies on the growth of the digital economy, the impact of automation and the implications for the labour market.

Prior to joining Oxford Economics, James spent over six years in the Government Economics Service. He worked in economics teams of the Cabinet Office, the Foreign and Commonwealth Office and the Department for Transport. There, he gained experience in microeconomic analysis and impact assessment as well as international macroeconomics, economic risk analysis and energy security. In the FCO, James spent three years working on economic issues in East and South East Asia. He also previously worked for the International Labour Organization.

Matthew Tinsley

Lead Economist, Economics & Sustainability

+44 (0)203 910 8000

Matthew Tinsley

Lead Economist, Economics & Sustainability

London, United Kingdom

Matt joined Oxford Economics’ Economic Impact team in 2014. In his time with the company, he has worked on a diverse range of Economic Impact studies, including in the creative industries, tourism and retail sectors.

Between 2019 and 2022, Matt was based in our Singapore office, supporting the development of a specialist Economic Impact team there, before relocating back to London to work in the Economics and Sustainability team. Matt holds both a BSc (Hons) and an MSc (Hons) in Economics, from the University of Bristol.

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