OIL SLUMP − WINNERS AND LOSERS IN ASIA The recent bust in oil prices signals a structural shift in the global economy, experts said last week. The Sunday Times looks at the region’s winners and losers. 4.5% 3,509 2,527 -2.1% 7.2% -0.5% INDIA ■ Depends heavily on oil imports ■ Recently stopped some fuel subsidies and raised petrol taxes -0.2% 241 1,005 532 THAILAND ■ Limited energy resources, relies heavily on oil ■ Cheap oil will give huge boost to economy -2.7% NOTE: Thousand barrels per day in 2013 Loser ■ World’s largest oil importer ■ Cheaper oil is windfall for government and manufacturers 3.7% -13.3% 5 4,164 4,531 4,395 10,117 5,657 570 623 -6.1% Currency change against CHINA 2.5% Total oil consumption Estimated net petroleum imports XX% US$ so far this year Winner 772 Crude oil production oil imports as XX% Net percentage of GDP in 2013 JAPAN ■ Third-largest oil importer globally ■ Central bank may have problems meeting inflation target -47 MALAYSIA 3.7% ■ Moving towards becoming a net oil importer ■ Recently seized the chance to scrap fuel subsidies 21 299 -0.8% 273 PHILIPPINES ■ One of the top geothermal 3% -2% INDONESIA 1,660 718 ■ Biggest energy consumer in South-east Asia ■ Struggles with high inflation, which cheap oil will alleviate energy producers in the world 0 828 6.1% ■ Cheap oil could mean job cuts for Filipino workers overseas 1,292 -3.9% 122 1,272 Data not available SINGAPORE ■ Third-largest oil trading and refining hub in the world ■ Cheap crude oil will help refiners make fatter profits Sources: UNITED STATES ENERGY INFORMATION ADMINISTRATION, BANK OF AMERICA MERRILL LYNCH, CREDIT SUISSE PRIVATE BANKING, UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT, MORGAN STANLEY, INTERNATIONAL ENERGY AGENCY, BLOOMBERG 18 -4.2% -117 BRUNEI ■ Badly hit because oil makes up STRAIT OF MALACCA Passageway for about a third of global oil trade most of exports ■ However, may have enough oil reserves to help it cope ST GRAPHICS