The australian naval institute



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REAL GNP GROWTH RATES 1978-1979

TAIWAN

S KOREA

HONG KONG

SINGAPORE

MALAYSIA

CHINA

THAILAND

PHILIPPINES

INDONESIA

JAPAN

N KOREA

BURMA

SRI LANKA

PAKISTAN

INDIA

AUSTRALIA

MEAN 6 14 S.D. 2.73


10

1?

Journal ol the Australian Naval Institute - - Page 15

Agriculture: grew by 3.8% p.a. over

the period

Mining: grew by 4 8% p.a over the

period

Manufacturing Industry: grew by

12.7% p.a. over the period

Transport and Communication: grew

by 11.3% p.a. over the period

Construction: grew by 11.0% p.a.

over the period

Other Sectors: grew by 8.4% p.a

over the period

Replita II also changed the funda­mental composition of GDP by re­ducing agriculture's share from 40% in 1974-5 to 34% in 1978-79. The non-agricultural sectors rose from 60% to nearly 70%

Returning to the general Asian-West Pacific region, it is foreseen that, by the end ol the cen­tury, the fess developed countries at present should achieve semi-industrialised status; coun­tries now semi-industrialised will become fully fledged industrial economies.

When looking ahead to the international trade situation in the region it is most probable that

  • The open' character of the region will not diminish.

  • Commodities will persist as major exports but manufactured goods will accelerate as de­velopment evolves. S.E. Asian countries and China are new areas to watch in this regard

Competition for shares in the world market
will become keener in Asia-Pacific countries,
forcing efforts towards product diversifica­
tion. The regions domestic markets them­
selves will be an area of contention. Sub-
regional blocs will gain strength as a result.
In order to reduce the variables in this re­
gional economic assessment, future evolution of
social-political conditions have been largely
ignored; the assessment provided here is thus
dependent on continued political stability especi­
ally of the non-communist countries.

In summary therefore, the next decades should see the Asian Pacific region as a large and rapidly growing segment of the world eco­nomic community. Its importance will be signi­ficantly more visible as its potential is incresingly exploited and as it moves towards greater self sufficiency




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