PUMPS & VALVES ASIA 2009

South East Asian Overview
The total GDP for South East Asia currently exceeds $796 billion which is larger than that of India at $661 billion and about half the size of the GDP for China. Total population for the area is around 550 million and average GDP per capita is approximately $1,400 p.a.

Pumps Market Overview:
As environmental concern has grown around the world so has the need for efficient and reliable equipment and system. In all areas, including petroleum, gas, chemicals, water/ sewerage and power generation, the world pump market for end-users has risen substantially.

Economic Performance:
Indonesia: Economic growth accelerated to 6.3% in 2007, above its 5-year average of 5.5% and the best growth rate since 1996. The main drivers of growth were private consumption, supported by private investment, and an expansion ofnet exports. From the supply side, higher GDP growth was accounted for mainly by the services sector with transportation and communications, and electricity, gas and water supply recording double-digit growth. Manufacturingoutput growth of 4.7%.

MALAYSIA

Powered by domestic demand, the economy expanded by 6.3% in 2007 above the 5.8% average recorded in 2002-2006. Growth in private consumption, which has been the main driver of GDP in the last few years, accelerated to 11.7% from 7.1% in 2006. It contributed 5.7 percentage point of total GDP growth. Foreign direct investment (FDI) net inflows rose by 54.4% to $9.4 billion in 2007, with manufacturing, particularly the electrical and electronics subsector, attracting more than half of the total.

PHILLIPINES

GDP growth reached its highest rate in three decades, the economy grew by 7.3% in 2007, well above its 5.2% average rate over the previous 5 years. From the production side of the economy, industry expanded by 6.6% while the important manufacturing subsector grew by a modest 3.3%. Construction surged by 19.5% reflecting increased public sector spending on infrastructure and the private sector real estate development boom.

SINGAPORE 

Growth remained well above its trend rate for a fourth year in a row, with GDP expanded by 7.7% in 2007, driven largely by a buoyant property market and related construction activity. After a decade of underperformance, construction emerged as an important growth driver. The property market boom spurred construction, which expanded by 20.7%, the fastest pace since 1996.

THAILAND

With consumption and investment weakened by lack of certainty on the political front, the economy grew by 4.8% in 2007. From the supply side, industry was the fastest-growing sector and made the strongest contribution 92.5 percentage points of total GDP growth). Manufacturing output increased by 5.8%, driven by export-oriented industries. Construction grew by 2.7% mainly reflecting an expansion of public sector projects.

Private investment is forecast to expand by at least 5% in 2008, from a low base last year. Moreover, foreign direct investment approvals the year before rose by 63% in value terms, a sign that FDI inflows will be robust in the forecast period.

VIETNAM

The economy maintained robust growth at 8.5% in 2007, above 7.8% average of 2002-2006. On the supply side, industry grew by 10.6% and was again the main contributor to GDP growth. Private industry expanded by 20.9%, outpacing the state sector.

(Source: Asian Development Bank)