Asian Sky Quarterly 2020Q4
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ECONOMICS<br />
OFFERING A BROAD LOOK AT TRAINING SCHOOLS ACROSS THE REGION<br />
COMING SOON<br />
GREATER CHINA | MAINLAND CHINA, HONG KONG, MACAU & TAIWAN<br />
Mainland China<br />
China’s economy continued to expand in the third quarter,<br />
having recovered quickly from its first quarter contraction. The<br />
4.9% year-on-year (y-o-y) expansion added to its 3.2% (y-o-y)<br />
growth in Q2. China’s GDP is expected to expand further in Q4,<br />
with analysts forecasting a further 6% increase in GDP.<br />
Hong Kong, China<br />
GDP GROWTH (BILLION USD)<br />
Mainland China Taiwan<br />
$11,016 $11,138 $12,134<br />
$525 $531 $579<br />
Hong Kong Macau<br />
$13,608 $14,200 $16,260<br />
$589 $605 $624<br />
Hong Kong’s economy has now seen five consecutive quarters<br />
of losses, with Q3 seeing a further decline of 3.5% (y-o-y).<br />
However, its third quarter performance was better than in Q1<br />
and Q2, when the economy contracted by 9% and 9.1% respectively.<br />
Taiwan, China<br />
Taiwan’s success with containing the Coronavirus is demonstrated<br />
by its economic performance during the first three<br />
quarters of 2020. Its economy did not contract, although in<br />
the second quarter it only expanded by a revised figure of<br />
0.35% (y-o-y). Taiwan’s economy is expected to grow further<br />
in the fourth quarter, with analysts forecasting a further 3.4%<br />
expansion.<br />
*Data Source : Trading Economics<br />
*Macau’s PMI is not available.<br />
A reading above 50 indicates an expansion of the manufacturing sector compared to<br />
the previous month; below 50 represents a contraction; while 50 indicates no change.<br />
FLEET SIZE GROWTH<br />
$309 $321 $342 $363 $362 $372<br />
$45 $45 $51 $55 $50 $54<br />
2015 2016 2017 2018 2019 2020Q3<br />
PURCHASING MANAGER’S INDEX<br />
Mainland China Taiwan Hong Kong<br />
56.0%<br />
54.0%<br />
52.0%<br />
50.0%<br />
48.0%<br />
46.0%<br />
44.0%<br />
42.0%<br />
40.0%<br />
38.0%<br />
36.0%<br />
34.0%<br />
Jul19<br />
Jun19<br />
Aug19<br />
Sep19<br />
Oct19<br />
Nov19<br />
Dec19<br />
Jan20<br />
Feb20<br />
Mar20<br />
Apr20<br />
May20<br />
Jun20<br />
Jul20<br />
Aug20<br />
Sep20<br />
Oct20<br />
Nov20<br />
Dec20<br />
Expansion Contraction<br />
Business Jet<br />
Turbine Helicopter<br />
Mainland China Taiwan Hong Kong Macau<br />
Turboprop<br />
313<br />
344<br />
338<br />
332 679 719 762<br />
324<br />
157 164<br />
184<br />
581<br />
191<br />
495<br />
133<br />
129<br />
135<br />
135<br />
122<br />
129<br />
10<br />
24<br />
11<br />
25<br />
9<br />
27 27 28<br />
5 5 5<br />
27<br />
25 24 20<br />
21<br />
4<br />
3<br />
23<br />
10 10 10<br />
19<br />
17<br />
15 15<br />
4<br />
2<br />
4<br />
1<br />
2016 2017 2018 2019 <strong>2020Q4</strong><br />
4 | ASIAN SKY QUARTERLY — FOURTH QUARTER 2020<br />
2016 2017 2018 2019 <strong>2020Q4</strong><br />
2016 2017 2018 2019 <strong>2020Q4</strong><br />
Data Source : The business jet and helicopter fleet: <strong>Asian</strong> <strong>Sky</strong> Group’s Business Jet Fleet Report & Helicopter Fleet Report, Turboprop data provided by AMSTAT.<br />
The current fleet data is preliminary, all fleet size data will be finalized in upcoming Helicopter / Business Jet Fleet Report.
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