The Association of Southeast Asian Nations (ASEAN) economies are showing more signs of recovery.
The Singaporean government revised its forecast of the nation’s gross domestic product (GDP) growth in 2010 from 3-5 percent to 4.5-6.5 percent. The state’s industrial production in January recorded a strong increase of 40 percent over the same period last year while its tourism sector grew by 17.6 percent year-on-year, welcoming 908,000 visitors.
Thai Minister of Trade, Porntiva Nakasai, on February 26 confirmed that his country’s export in January registered the sharpest growth over the past 18 months thanks to the recovery of major export markets.
According to the Socio-economic Development Committee of Thailand, the nation’s export is likely to grow 15.5 percent this year, helping it achieve the GDP growth of 3.5-4.5 percent for the whole year.
Meanwhile, Malaysia registered an economic growth of 4.5 percent in the third quarter of fiscal year 2009, ending its economic crisis. Like neighbouring Singapore and Thailand , its strong export growth has helped in overcoming the crisis.
The recovery in the country’s industrial sector has pushed the Malaysian government to raise its forecast of economic growth this year to 5 percent./.
The Singaporean government revised its forecast of the nation’s gross domestic product (GDP) growth in 2010 from 3-5 percent to 4.5-6.5 percent. The state’s industrial production in January recorded a strong increase of 40 percent over the same period last year while its tourism sector grew by 17.6 percent year-on-year, welcoming 908,000 visitors.
Thai Minister of Trade, Porntiva Nakasai, on February 26 confirmed that his country’s export in January registered the sharpest growth over the past 18 months thanks to the recovery of major export markets.
According to the Socio-economic Development Committee of Thailand, the nation’s export is likely to grow 15.5 percent this year, helping it achieve the GDP growth of 3.5-4.5 percent for the whole year.
Meanwhile, Malaysia registered an economic growth of 4.5 percent in the third quarter of fiscal year 2009, ending its economic crisis. Like neighbouring Singapore and Thailand , its strong export growth has helped in overcoming the crisis.
The recovery in the country’s industrial sector has pushed the Malaysian government to raise its forecast of economic growth this year to 5 percent./.
