GDP up, exports down, infrastructure up?

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Puzzling stellar economic growth with declining exports?

I refer to the article “Chan’s ministry announces 4.4% impressive 1Q growth but analysts “scratching head”” (theonlinecitizen, May 26).

It states that “But the impressive figures quoted by Chan’s ministry did not excite industry analysts and economists. Many are puzzled by MTI’s announcement.

As reported in the media today (26 May), the analysts are scratching their head, trying to reconcile the data showing that electronics production continues to expand while electronics exports have contracted in the past few quarters.

In the meantime, neither MTI nor Chan has explained about the “perplexing” divergence of the manufacturing output and export figures, as highlighted by the industry analysts and economists.

What do you think is going on?”

In this connection, to what extent is arguably, the stellar economic growth due to the increase in infrastructure spending from S$8.5 billion in FY2011 to an estimated S$20 billion in FY2018?

Leong Sze Hian

About the Author

Leong Sze Hian has served as the president of 4 professional bodies, honorary consul of 2 countries, an alumnus of Harvard University, authored 4 books, quoted over 1500 times in the media , has been a radio talkshow host, a newspaper daily columnist, Wharton Fellow, SEACeM Fellow, columnist for theonlinecitizen and Malaysiakini, executive producer of Ilo Ilo (40 international awards), Hotel Mumbai (associate producer), invited to speak more than 200 times in about 40 countries, CIFA advisory board member, founding advisor to the Financial Planning Associations of 2 countries. He has 3 Masters, 2 Bachelors degrees and 13 professional  qualifications.