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2.9 Middle East
In 2013, the Middle Eastern economy as a whole suffered a slowdown due to declines in oil production, political transitions, and conflict. While signs of global economic recovery in 2014 are expected ...
2.8.6 Singapore
Singapore’s real GDP growth recorded solid 3.9% growth in 2013. The construction sector saw strong growth of 6.1%. In addition to a construction boom in both private and public housing, a number of la...
2.8.5 The Philippines
The Philippines economy recorded real GDP growth of 7.2% in 2013 despite the multiple natural disasters that struck the country. This represents growth 0.4 % higher than in 2012, attributed in part to...
2.8.4 Vietnam
Vietnam’s real GDP growth came to 5.4% in 2013. Its construction sector recorded growth of 5.8%, further expanding the growth seen in 2012. An increasing number of investment projects are expected in the capital of Hanoi as well as Hai Phong, where Hai Phong Port is located. In addition, highway infrastructure development is expected to increase new investment in the provinces bordering the...
2.8.3 Malaysia
Real GDP growth reached 4.7% in Malaysia in 2013. Brisk demand was seen in residential and commercial construction, which pushed year-on-year growth in the construction sector up 10.9%, the second con...
2.8.2 Thailand
Thailand’s real GDP growth came to 2.9% in 2013, much slower than the growth recorded in 2012. The interim government did not carry out its investment budget, which led to suspension or delay of publi...
2.8.1 Indonesia
Indonesia’s real GDP growth came to 5.8% in 2013, falling below 6% for the first time in four years. Despite the slowdown, the expansion of the middle class was a major contributor to maintaining Indonesia’s ongoing stable growth. Indonesia is the largest chiller market in the ASEAN-5. The chiller market in 2013 was worth US$ 111.3 million, an increase of 2.1% compared with US$ 109.0 millio...
2.8 Southeast Asia
The ASEAN recorded economic growth of 5.1% in 2013, slower than the 5.8% growth recorded in 2012. A new trend of creating industrial clusters within the ASEAN region is taking place, with industry shi...
2.7 Taiwan
Taiwan has a dynamic capitalist economy with gradually lessening government guidance of investment and foreign trade. Exports, led by the electronics, machinery, and petrochemicals industries, have pr...
2.6 South Korea
South Korean real GDP grew 3.0% in 2013, showing a moderate recovery trend. Real estate market conditions gradually recovered during the year, with construction investment expanding a strong 6....
