New Markets

10/26/2021

MACHINERY IMPORTS STILL ESSENTIAL TO INDONESIA’S GROWTH AMBITIONS

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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9/15/2021

NEW DATA FROM KOREA IS GOOD SIGN FOR GLOBAL ECONOMY

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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9/15/2021

SINGAPORE'S GDP BOUNCES BACK, BUT OFFICIALS WARN OF UNCERTAINTIES

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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9/15/2021

AFTERSALES SERVICE IN ASIA

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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9/15/2021

SRI LANKA TURNS ITS EYES TO THE EAST

For years, Sri Lanka has looked West for a big part of its revenues. Exports of garments to Europe and North America have been, and will continue to be, essential to its economy, as will Western tourists and remittances from Sri Lankan workers in the Middle East, Europe and North America. However, the Covid-19 pandemic has hit all of these revenue streams hard, and the nation’s economy contracted sharply in 2020. A further effect that Covid-19 has had on Sri Lanka, has been to add impetus to changes that were already taking place – not least a realisation that she cannot rely so much on the Western fashion industry, and that other important opportunities exist - to the East…
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