According to the 2012 World Bank Data, among the 10 ASEAN Member States, Philippines ranked 5th with the largest economy following Indonesia, Thailand, Malaysia and Singapore. Behind Philippines are Vietnam. Myanmar, Brunei, Cambodia and Laos.
This is good news considering that in ASEAN Average per capita GDP in 2010, Philippines was only in the 6th spot behind Singapore, Brunei, Malaysia, Thailand and Indonesia.
But here's the biggest catch, ASEAN with more than 600 million people combined population makes the third largest economy in the world tailing China and India and is followed by European Union, USA and Japan.
I'm no economist myself but I'm positive BIG things are coming at the onset of ASEAN Economic Community (AEC) 2015 by the end of this year.
Source: ASEAN Up