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Singapore Defence and Security Report Q1 2009

330

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An electronic version (mostly PDF, but can be Excel or PPT), which is either available for immediate download or will be sent via email by the Publisher of the report. The licencing for an electronic version is for use by the purchaser ONLY.

£330.00

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Market

Defence

Report Type

Market Research

Country

Singapore

Published

12 February 2009

Number of Pages

46

Report Delivery

Download

Delivery Lead Time

Immediate

Publisher

Business Monitor International

Singapore has consistently had one of the largest defence budgets in the Asia Pacific region. Given its small population base, the Singaporeans have focused on maintaining their spending on sophisticated and superior weaponry. However, the principal recent development affecting the future of Singapore’s defence spending is the recent rapid deterioration in economic conditions. According to advance estimates by the Ministry of Trade and Industry (MTI), Singapore has fallen into its first technical recession since 2002 after real GDP fell by 6.3% seasonally adjusted, annualized quarter-on-quarter (q-oq) basis in Q308 (0.5% year-on-year (y-o-y)) as exports and manufacturing – which contracted by 11.5% y-o-y in real terms – slumped. This followed a 5.7% slide in Q208, and we caution that the exportdependant island-nation's woes may yet have further to run as it continues to struggle with a drop in demand for manufacturing goods, particularly pharmaceuticals. While it remains too early to tell to what extent this will affect Singapore’s traditionally high level of defence spending, our latest figures indicate that defence spending will fall below 30% of total expenditure, and below 4% of nominal GDP in the coming few years.

Another recent development was the potential for trade routes between Singapore and the rest of the world to be disrupted by events in South East Asia that have nothing to do with Singapore. The closure by demonstrators of Bangkok’s two main airports caused massive disruption to air travel throughout the region. In general though, the overall security situation in South East Asia worsened through the last months of 2008. This was partly because of the various developments in Thailand – and a political crisis in that country that is still very far from being resolved – and partly because of a major set-back to the peace negotiations that are taking place between the Philippine government and the insurgents in Mindanao. However, and in contrast to most of the last five years, Indonesia is no longer the principal locus of security issues in South East Asia.

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Select License Type

Electronic License

Electronic License

An electronic version (mostly PDF, but can be Excel or PPT), which is either available for immediate download or will be sent via email by the Publisher of the report. The licencing for an electronic version is for use by the purchaser ONLY.

£330.00

Change Currency

GBP EURO USD

Change Currency

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