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ASEAN leads the world in export growth in the period 2021-2026.
The newly released 2022 Global Trade Growth map report has brought ASEAN into the spotlight as the region is forecasted to lead the world in export growth over the next five years. The DHL Express report shows that, when measured by the level of economic development, emerging economies expect ASEAN to generate 45% of total global trade growth between 2021 and 2026. The good news, especially for Asia and ASEAN, is that Southeast Asia and South Asia perform very well, both in terms of speed and scale.
Contrary to worldwide economic projections, trade growth is expected to act as a driving force against inflation and supply disruptions. With inflation at a multi-decade high and economies slowing, the strength of trade will spur growth, lower prices, and diversify key inputs, the report said. It is even more important for companies and countries than it was before the current crisis wave.
The 2022 Global Trade Growth Map shows that when it comes to trade, the volume increases, the rate increases, and the scale of trade is broader. Furthermore, the report is projected to grow even faster over the next two years than it did in the pre-pandemic period. The data also shows that emerging economies are continuing to perform very well and it is certainly not just about quantity, but becoming a quality story, with more and more sophisticated goods. In the region, all these countries are on different export and growth curves and Vietnam is considered to have a very strong increase.
However, the factor that puts any country at the top or bottom is, so to speak, the focus, and different levels of trade at different times have different focuses on trade. Emerging economies are becoming more creative, more innovative, and more digitally connected. Today's advanced companies and advanced economies need to realize that they are competing with companies that are innovative, connected, and very digitally savvy.
Source: Công Thương News