Despite strong growth in 2021, Taiwan’s Zero Covid strategy is proving a tough line to take, especially when much of the world is opening up. How long can businesses sustain it?
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Indonesia set some eyebrow-raising long-term industrial goals a couple of years ago. With all the turmoil caused by Covid-19, where do things stand now? And what does this mean for international machinery producers looking to sell into that market?
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South Korea’s exports are expected to climb by double digits again in June as much of the world’s economy shakes off the effects of the pandemic. Exports rose 29.5% in the first 20 days of the month, year-on-year, according to customs office figures ($32.4 billion, compared to $25 billion). Average daily shipments also increased 33.7% in the period, when adjusted for calendar effects. The greatest increase by sector was automotive exports, up 62.2%, despite global supply shortages of automotive chips. Exports of petroleum products were also up 58.6%, though the good news did not extend to all sectors – exports of ships, for instance were down 27.7%.
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The first quarter of 2021 saw strong GDP growth from Singapore, outperforming government expectations. Q1’s 1.4% year-on-year growth was the best since 2019 Q4, far better than the Ministry of Trade and Industry’s own cautious forecast of 0.2%, and exceeding more optimistic projections from a Reuters analysts’ poll (0.9%).
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Responsible selling of technical products to overseas customers often involves far more than specification, manufacture, shipping and delivery. With visas restricted, many direct inbound routes suspended, and weeks of quarantine to endure, sending engineers from Europe to do on-site installation represents a massive cost. Setting up a new business entity there, to deliver these services, is an option, but it takes lots of time and money too, especially when recruitment is considered – certainly not a quick fix. So, is international aftersales service another victim of Covid19? Not with Melchers.
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