Wattanapruttipaisan’s (2004) calculation shows that SME in ASEAN contribute a
disproportionately limited share of 20% to 40% to gross sales value or manufacturing
VA.6
; For example, in Singapore, the VA of SME is only 34.7% of the economy’s total
VA, while productivity is half that of LEs. Malaysian SME contributed only about
26% to manufacturing VA. In Thailand, commonly cited as a successful model for
SME development in ASEAN, the SME contribution is only 47% of total VA.
Comparatively, SMEs in developed nations contribute about 50% of total VA in the
European Union (EU), or, individually, for example, SMEs in Germany are responsible