Demand and GDP

Boeing has projected a demand for 6,810 new airplanes in China over the next 20 years, according to its annual China Current Market Outlook (CMO), which estimated the total value of those new airplanes at $1.025 trillion. China has become the first trillion dollar aviation market in Boeing’s forecast. The latest GDP figures show that China’s GDP growth is consistent at 6.7% but it is India that remains the fastest growing economy in the world at a rate of 7.1%. It is significant to note that the Philippines GDP growth rate is only 0.1% behind India. As India powers ahead,