# Gaps — FDI by sector & refreshed source amounts SEA

Updated **15 September 2026**.

## What this pack locked

- **ASEAN industry top-five 2023–2024** from AIR 2025 Figure 1.2 (finance, manufacturing, wholesale/retail, professional/scientific/technical, information & communication) — US$ bn.
- **Outside top-five:** real estate US$8.8bn (−29%) and construction US$2.7bn (sixfold) for **2024 only**.
- **Source amounts 2024** from AIR 2025 Table 1.3 — **fills** China / UK / Japan cells that were empty in `data/fdi_flows/`.
- **Recipient totals** AIR Figure 1.4 — cross-check vs `data/fdi_flows/recipient_totals.csv` (ASH2025); rounded figures align (SGP 143.4, IDN 24.2, etc.).
- **Partial host×sector:** Indonesia (mfg / wholesale / healthcare / mining), Malaysia (ICT/data centres), Cambodia (manufacturing) from AIR country chapters.

## Empty by design (do not zero-fill)

| Gap | Why empty |
|-----|-----------|
| **Full AMS × sector matrix** | ASEANstats `FDI.HOS.X.SECT` / `FDI.ASE.DES.INF.SEC` portal last update **1 Jul 2026**, but structured CSV/API download failed in prior ASEANstats pulls (automation blocked). AIR narrative only gives selected host×sector absolutes. |
| **PH / TH / VN manufacturing & ICT US$** | Named as destination sectors in AIR Philippines text; **no absolute US$** published for those hosts in extractable AIR narrative. |
| **Real estate 2023 absolute** | AIR gives 2024 US$8.8bn and −29% only — prior-year absolute not stated in text. |
| **Timor-Leste (TLS)** | Not on ASEANstats ASEAN-10 FDI AMS tables / AIR Figure 1.4. Prior pack used UNCTAD WIR for TLS recipient total only. |
| **UNCTAD WIR 2026 stock tables** | Not used as primary lock this build — AIR 2025 / ASEANstats BoP flows preferred for sector + source amounts. |
| **EU country split beyond France/Ireland** | EU aggregate US$20bn narrative; Germany/Luxembourg “substantial” but no Table 1.3 rank. |

## Important revisions vs `data/fdi_flows/` (do not silently overwrite)

| Item | Prior source-map pack | This pack (AIR 2025 PDF) |
|------|----------------------|---------------------------|
| US → ASEAN 2024 | ~US$74bn / ~⅓ (portal/Fulcrum summaries) | **US$42bn / 18.6%** (Table 1.3) |
| US → ASEAN 2023 | US$74.4bn / 32.4% (Statistical Brief Vol.9) | **US$84bn / 40.5%** (Table 1.3) |
| ASEAN total 2023 | US$229.8bn (Brief) | **US$208bn** (Table 1.3) |
| China / UK / Japan 2024 | Empty | **19 / 19 / 18** US$ bn |

Treat prior pack as historical snapshot; this topic pack documents the **AIR 2025 PDF revision**. Intra-ASEAN US$31bn (14%) is consistent across both.

## Concept firewall

- All figures here are **BoP FDI inflows** (ASEAN Secretariat / AIR), not BOI/BKPM/FIA **approvals or registered capital**.
- Singapore **~63.5%** of ASEAN BoP inflows (143.4/226) = **hub / holding-company distortion** — separate callout; do not treat as greenfield manufacturing FDI for the region.
- PH peers for recipient/sector colour: **MY / TH / VN / ID** only; Singapore hub separate.

## ASEANstats portal status

- Indicator pages confirm last data update **01-Jul-2026**.
- PDF AKF2024 / Statistical Brief Vol.9 downloads returned HTTP 202 (CDN challenge) this session — 2023 sector colour from Tavily snippets of AKF (services 73.8% / finance 39.6% of 2023) **not** used as primary lock because AIR revises 2023 industry levels (finance 136 not 92.6). Prefer AIR 2025 for both years.