Asian Sky Quarterly 2021 Q3

ECONOMICS
EAST ASIA & CENTRAL ASIA | JAPAN, SOUTH KOREA & INDIA
Japan
GDP GROWTH (BILLION USD)
Japan’s economy rebounded in the second quarter
of 2021 with growth of 1.3%. In the first quarter,
GDP shrank by 3.7. Q2 gains were largely due to
exports and capital expenditure.
Japan
$4,867
South Korea
$4,955
$5,065
India
$5,013
$4,983
South Korea
The economy in South Korea expanded by 5.9% in
the second quarter of the year – the highest growth
seen in more than ten years. Private consumption
and government spending were behind the gains.
$2,651
$2,701
$2,871
$2,623
$2,575
India
$1,624
$1,725
$1,647
$1,631
$1,672
GDP increased in India by 20.1% in the second
quarter of 2021. India’s economy has now grown
for three consecutive months, ending the recession
in the country last year.
2017 2018 2019 2020 2021Q2
PURCHASING MANAGER’S INDEX
Japan
South Korea India
65.0%
60.0%
55.0%
50.0%
45.0%
40.0%
Expansion Contraction
*Data Source : Trading Economics
35.0%
*A reading above 50 indicates an expansion of the manufacturing
sector compared to the previous month; below 50 represents a
contraction; while 50 indicates no change.
30.0%
25.0%
20.0%
FLEET SIZE GROWTH
Aug 20
Sep 20
Oct 20
Nov20
Dec 20
Jan 20
Feb 20
Mar 21
Apr 21
May 21
Jun 21
Jul 21
Aug 21
Business Jet
Turbine Helicopter
Turboprop*
South Korea
India
Japan
140
140
138 137
142
647
646
664 673
669
94
92
78
73
77
76
72
68
54
55
63 61
66
21
19
21
291 287 285 288
17 14
227 229 232 231
287
224
16
19
17
17
19
2017 2018 2019 2020 2021Q2 2017 2018 2019 2020 2021Q2 2017 2018 2019 2020 2021Q2
Data Source : The business jet and helicopter fleet: Asian Sky Group’s Business Jet Fleet Report & Helicopter Fleet Report, Turboprop data provided by AMSTAT.
The current fleet data is preliminary, all fleet size data will be finalized in next year’s Helicopter / Business Jet Fleet Report.
* Historical data under review
18 | ASIAN SKY QUARTERLY — THIRD QUARTER 2021