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2. Regional Reports: 2.9 Middle East
Overview 2009 Economy Dubai was a driver of the Middle Eastern economy for much of the 2000s. However, in November 2009, Dubai World, a holding company that manages a portfolio of projects for the Dubai government of the United Arab Emirates (UAE), announced a business restructuring. Dubai Wor.../images/up/News/201012111191218835.jpg
2. Regional Reports: 2.8.2 Turkey
Economic Overview According to the Turkish Statistical Institute, the country’s real GDP growth shrank by 4.7% in 2009. Looking at GDP growth by quarter, negative GDP growth of 29.4% was posted in the first quarter compared with the same quarter of the previous year, while negative growth of 22.6...
2. Regional Reports: 2.8.1 Pakistan
Economic Overview According to an economic survey released by Pakistan’s Ministry of Finance in June 2010, Pakistan’s real GDP growth in fiscal 2009-10 (July 2009 to June 2010) was 4.1%. Even stronger economic growth was expected in fiscal 2010-11, mainly due to growth in the manufacturing sector...
2. Regional Reports: 2.8 Southeast Asia and Others
Economic Overview GDP in many parts of the world shrank in 2009. However, according to the IMF World Economic Outlook Update, output among the ASEAN-5 countries (Indonesia, Malaysia, the Philippines, Thailand, Vietnam) recorded year-on-year growth of 1.7%. Among these countries, Indonesia and Vie.../images/up/News/20101211103265600.jpg
2. Regional Reports: 2.7 Taiwan
Affected by the economic downturn, Taiwan’s chiller market of 2009 significantly shrank by 30% over that of 2008. The sales volume is estimated at 8,000 units, of which about 80% are scroll chillers, and the rest 20% are screw chillers. Driven by the rising economic situation of 2010, chiller sales ...
2. Regional Reports: 2.6 Korea
The South Korean economy has shown a V-shaped recovery over the past year, boosted by increased government spending, incentives for car buyers, and record-low interest rates. In other words, growth was driven by a good mix of strong fiscal stimulus, a weak won, and monetary easing. The weak won-doll.../images/up/News/201012110405440257.jpg
2. Regional Reports: 2.5 India
Reported by Hiru M. Jhangiani HVACR Advisor The current business year, which started on April 1, 2010 and ends on March 31, 2011, got off to a slow start in its first two to three months, continuing the slackness experienced in the 2009 business year. Most HVAC companies involved in chiller manu.../images/up/News/201012110234649251.jpg
2. Regional Reports: 2.4 Europe
Report by Alan Field based on the latest BSRIA survey The total value of the market for the major seven countries covered in the BSRIA survey is expected to be around 1.70 billion in the current year 2010. This compares with 1.83 billion in 2009 and shows that the world recession continues to im.../images/up/News/20101211051074073.jpg
2. Regional Reports: 2.3 Japan
Economy Following on the heels of the Lehman Brothers’ collapse, which sent shockwaves through Japan, the Japanese economy got off to a rough start in 2009. On December 25, 2009, the government released its projections of Japan’s gross domestic product (GDP) for fiscal 2009 (end March 2010). T.../images/up/News/20101210321684326.jpg
2. Regional Reports: 2.2 China
After experiencing a decrease in the first quarter of 2009, sales in the Chinese chiller industry began to increase from the second quarter. During the last quarter of 2009, the sales even began to increase compared with the same season in 2008. Nevertheless, considering shipments for the whole year.../images/up/News/2010113023495477146.jpg
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