S'pore fares worst in SE
Asia
BANGKOK - SINGAPORE will be Southeast Asia's weakest
economy, shrinking nearly 5 per cent this year, while Thailand
faces its worst recession in 11 years, reflecting a collapse in
exports across Asia, a Reuters poll shows.
The Philippines and Indonesia will
be the only economies in Southeast Asia to record growth this
year but that growth will be sharply slower than in previous
years with Indonesia hit by falling prices of commodities, the bulk
of its exports.
Singapore's gross domestic product, or the value of all goods and
services produced, is set to shrink 4.9 per cent in 2009, according
to the median forecast of the Reuters quarterly poll.
It would be the city-state's worst-ever economic slump and mark a
sharp a turnaround after averaging 6.4 per cent annual growth over
the past five years. But analysts foresee it rebounding 3.9 per
cent in 2010 as fiscal stimulus kicks in.
In contrast, Southeast Asia's biggest economy, Indonesia, is poised
to expand by 4 per cent this year, and 5.1 per cent in 2010, as
exports contribute only about a third of GDP, making it much less
dependent on trade than its neighbours.
Still, the growth forecast is well down from a 4.8 per cent
estimate in a poll three months ago. Weak exports and falling
commodities prices weigh on growth, and analysts said the
government needs to take further steps to support the economy on
top of last month's US$6.1 billion (S$9.31 billion) fiscal stimulus
package.
In Malaysia and Thailand, demand is hurt by crumbling exports.
Thailand's economy is set to shrink 1.5 per cent this year while
Malaysia will see a 1.2 per cent contraction. The poll forecast
Malaysia would pick up slightly next year, with GDP growing 2.8 per
cent while Thailand is set for a 2.9 per cent expansion in
2010.
The forecast that the economy will shrink 1.5 per cent this year
reverses a 2.8 per cent growth forecast three months ago and an
actual 2.6 per cent expansion in 2008.
For the Philippines, the poll forecast the economy to expand by
just 2.3 per cent this year, lower than a 3.3 per cent growth
estimate in a similar poll in December and below government
expectations for at least 3.7 per cent growth, as a deepening
global recession chokes exports and slows remittance inflows. --
REUTERS
U also dunt know that currently,the GDP per capita at PPP of
SG
is one third higher than Oz!!pl
read on...
do u know GDP growth or recession is based on the same
country,
not compared country A with country B or C ?
Have u heard SG has been growing at a developing country
GDP rate?
I have caluculated that from 1996 to 2008,Oz GDP grew about
55% ,while Singapore 88 %.So,even in the next few years,SG
suffer
recession of total 10% and Oz no growth nor no recession,that
is
stand still,SG still grew faster than Oz!!
This is not important how SG is classified as developing or
developed country.
U may know that SG has been growing faster than Oz in the past
few years.
But u dunt know that SG has been growing faster than oz in the
past 15 years.
U also dunt know that currently,the GDP per capita at PPP of
SG
is one third higher than
Oz!!
I hate to repeat all these common sense,but i think i have
to
clear the air.Right?
Info come from Oz and CIA.Do u trust them?
gg
kk
