Asian Sky Quarterly 2021 Q3
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ECONOMICS<br />
SOUTHEAST ASIA | THAILAND, MALAYSIA & SINGAPORE<br />
Thailand<br />
GDP GROWTH (BILLION USD)<br />
The economy in Thailand expanded by 7.5% in the<br />
second quarter of <strong>2021</strong> – the first time it grew for<br />
over a year. Manufacturing and exports were the main<br />
reasons behind the growth.<br />
Thailand<br />
$507<br />
Malaysia<br />
$544<br />
Singapore<br />
$502<br />
$505<br />
Malaysia<br />
$456<br />
Malaysia’s economy began to emerge from a full year<br />
of recession in the second quarter of <strong>2021</strong>, with an<br />
expansion of 16.1%, although this was largely attributed<br />
to the poor economic performance in the<br />
second quarter of 2020. Services, which are the main<br />
contributor to the country’s economy, grew by 13.4<br />
during the quarter.<br />
Singapore<br />
The economy in Singapore grew by 14.7% in the second<br />
quarter, a touch above the official advance estimate of<br />
14.3%. However, despite growing, Singapore’s economy<br />
is still 0.6% smaller than before the start of the<br />
COVID-19 pandemic.<br />
$373<br />
$372<br />
$342<br />
$359<br />
$365<br />
$340<br />
$337<br />
$344<br />
$339<br />
$319<br />
2017 2018 2019 2020 <strong>2021</strong>Q2<br />
PURCHASING MANAGER’S INDEX<br />
Thailand Malaysia Singapore<br />
60.0%<br />
55.0%<br />
50.0%<br />
45.0%<br />
40.0%<br />
Expansion Contraction<br />
35.0%<br />
30.0%<br />
*Data Source : Trading Economics<br />
*A reading above 50 indicates an expansion of the manufacturing sector<br />
compared to the previous month; below 50 represents a contraction;<br />
while 50 indicates no change.<br />
FLEET SIZE GROWTH<br />
25.0%<br />
20.0%<br />
Aug 20<br />
Sep 20<br />
Oct 20<br />
Nov20<br />
Dec 20<br />
Jan 20<br />
Feb 20<br />
Mar 21<br />
Apr 21<br />
May 21<br />
Jun 21<br />
Jul 21<br />
Aug 21<br />
Business Jet<br />
Turbine Helicopter<br />
Turboprop<br />
Malaysia Singapoire Thailand<br />
56<br />
64<br />
57<br />
63<br />
59<br />
61<br />
57<br />
61<br />
157<br />
161<br />
139<br />
136<br />
133<br />
42<br />
34<br />
44<br />
28<br />
25<br />
25<br />
26<br />
48<br />
37<br />
40<br />
35<br />
33<br />
51<br />
37<br />
111<br />
111<br />
110<br />
102<br />
106<br />
9<br />
19<br />
8<br />
18<br />
9<br />
18<br />
10<br />
6<br />
6<br />
6<br />
0<br />
0<br />
5<br />
2017 2018 2019 2020 <strong>2021</strong>Q2 2017 2018 2019 2020 <strong>2021</strong>Q2 2017 2018 2019 2020 <strong>2021</strong>Q2<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 next year’s Helicopter / Business Jet Fleet Report.<br />
16 | ASIAN SKY QUARTERLY — THIRD QUARTER <strong>2021</strong>
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